Investor Presentaiton
Liquidity and Credit Ratings
Cleco Power Available Liquidity(1)
(in $ millions)
6/30/2021 8/31/2021
Cleco Power
Cash and Equivalents
$20.8
Credit Facility Capacity
$300.0
$47.5
$300.0
Less: Amount Drawn
$160.0
$245.0
Available Credit Facility
$140.0
$55.0
Total Cleco Power Liquidity
$160.8
$102.5
Cleco Holdings
Cash and Liquidity(2)
$232.6
$248.4
Total Combined Available Liquidity(3)
$393.4
$350.9
Bank Facilities Successfully Refinanced May 2021
$125 million term loan extended three years to 2024;
$300 million revolving credit facility extended 5 years to
2026
Revolving Credit Facility Draw and Storm Cost Recovery
Cleco Power's revolving credit facility initially drawn
primarily as a result of costs associated with 2020
hurricanes and 2021 winter storms
$50 million of winter storm fuel and purchased power
costs recovery started May 2021; full recovery over twelve
months
Revolving Credit Facility Draw for Dolet Hills Power
Station Fuel Expense
Credit Ratings (4)
As of 8/31/2021
Moody's
S&P
Fitch
A3
BBB+
BBB+
.
Cleco Power
Outlook
Stable
Negative
Stable
•
Cleco Power revolving credit facility draw after
6/30/2021 to meet Dolet Hills Power Station (DHPS) fuel
purchases associated with mine closure and pending
retirement of DHPS; minimal residual DHPS fuel
purchases remain
A portion of DHPS fuel cost recovered through the Fuel
Adjustment Clause in 2H21/1H22
Regulatory process to recover balance of DHPS closure
and retirement costs is underway
Cleco Holdings and Cleco Power have approximately $350 million of liquidity
(1) Excludes Restricted Cash; intra-quarter balances reflect primary balances in core bank and investment accounts
(2) Includes Cleco Cajun, excludes Cleco Power; reflects $175 million credit facility with no outstanding draw and cash on hand
CLECO (3) Cleco Holdings liquidity is available to Cleco Power, but Cleco Holdings is not an obligor on Cleco Power's debt
Connecting Louisiana's future. (4) Senior unsecured ratings. A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time
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