NEW YORK--(BUSINESS WIRE)--Fitch ratings has assigned a 'BB+' rating to Calpine Corp.'s (Calpine) $1.6 billion first lien term loan maturing in 2022. The term loan amortizes at 1% per year and is priced at L+275 basis points (bps). Calpine utilized the proceeds of the term loan to retire approximately $1.6 billion remaining on its 2018 term loan, which bore interest at L+300 bps, thus extending maturity by four years and reducing interest expense. Fitch has assigned a Recovery rating (RR) of RR