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Southern Ohio Port Authority, OH -- Moody's assigns Green Bond Assessment (GBA) of GB1 to the $185 million Exempt Facility Revenue Bonds (PureCycle: Ohio LLC Project), Series 2019, to be issued by Southern Ohio Port Authority

Moody's Investors Service today assigned a Green Bond Assessment (GBA) of GB1 (Excellent) to the $185 million Exempt Facility Revenue Bonds (PureCycle:Ohio LLC Project), Series 2019, to be issued by Southern Ohio Port Authority (the Issuer), with the purpose of funding the construction of a plastic recycling facility by PureCycle: Ohio LLC (the Company), including capitalized interest, and meeting related issuance cost and debt service reserve requirements. The assessment is driven by our expectation that the proceeds of the bonds will be used entirely to fund the construction of the plastic recycling facility, including capitalized interest, and to fund the debt service reserve requirements and issuance costs. The PureCycle facility qualifies as green under the GBP, because the process recycles plastic waste, minimizes landfill use and consumes significantly less energy than the traditional resin production life cycle.