New York, November 10, 2015 -- Moody's Investors Service (Moody's) assigned a Ba3 rating to Calpine Corporation's (Calpine) proposed $550 million term loan B due 2022. Concurrent with this rating assignment, Moody's affirmed Calpine's B1 Corporate Family Rating (CFR), B1-PD Probability of Default Rating, Ba3 rating on the company's senior secured revolver, term loans, and senior secured notes and the B3 rating on the company's senior unsecured notes. In addition, Moody's raised Calpine's Speculative Liquidity Rating to SGL-1 from SGL-2. Proceeds from the new debt issuance will be used to prefund the acquisition of the 745 MW Granite Ridge power plant in New Hampshire as well as general corporate purpose. Calpine's rating outlook is positive.

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