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Moody's: Energy Future unchanged
Moody's Investors Service said that Energy Future Holdings Corp.'s (Caa1 corporate family rating/negative outlook) $500 million issuance of 10% senior secured notes due 2020 has no credit implications at this time.
The proceeds will initially bolster liquidity and are expected to be used for general corporate purposes. But the agency said they could also eventually be used to repurchase debt, presumably at a steep discount to par value.
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