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Moody’s ups Enbridge Energy view to stable
Moody's Investors Service said it affirmed the ratings on Enbridge Energy Partners, LP (EEP), including its Baa3 senior unsecured rating and the Baa2 senior unsecured rating on Enbridge Energy LP (EELP).
The outlooks for both entities were changed to stable from negative.
"EEP continues to benefit from the high level of support provided by its parent, Enbridge Inc.," Moody’s vice president, senior credit officer Gavin MacFarlane said in a news release.
"The strategic review positions EEP with a lower business risk profile, a reduction in debt and an increase in retained cash flow following a 40% distribution cut."
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