S&P turns GrandBridge view to stable

S&P said it revised its outlook for GrandBridge Energy Inc. to stable from negative and affirmed the A ratings on the company and its senior unsecured notes.

“The stable outlook on GBE reflects our expectation that its financial measures will remain consistent, such that funds from operations (FFO) to debt is greater than 15%. The stable outlook also reflects our expectation that the regulated utility business will consistently contribute about 95% of consolidated EBITDA. Under our base case, we expect consolidated FFO to debt of 17%-18% through 2026,” S&P said in a statement.

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