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Moody's ups LSP Energy, Batesville
Moody's Investors Service said it upgraded the senior secured debt of LSP Energy LP and LSP Batesville Funding Corp. to B1 from B2.
The outlook is stable.
Moody's said the upgrade considers the expected assignment of Aquila's (B2 senior unsecured) contractual obligation to purchase power under a long-term contract from LSP Energy. This contract is expected to be assigned to South Mississippi Electric Power Association, a rural electric generation and transmission cooperative.
The rating upgrade also considers improvement in LSP Energy's operating and financial results, the agency said.
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