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Fitch ups Entergy outlook to stable
Fitch Ratings said it revised the outlook of Entergy Corp. and its subsidiaries Entergy Arkansas, Inc., Entergy Gulf States, Inc., Entergy Louisiana, LLC, Entergy Mississippi, Inc. and System Energy Resources, Inc. to stable from negative. The agency also affirmed the ratings for each of these companies, including Entergy's BBB- long-term issuer default rating.
The change in outlook is due to the fact that the Entergy organization has withstood the financial and operating challenges from last year's unprecedented storm damages without impairment of its consolidated credit profile, the agency said. The stable outlook reflects the partial and continuing recovery of utility cash flows to pre-hurricane levels, strong and growing cash flows from the company's merchant nuclear fleet, limited commodity price exposure, constructive regulatory developments relating to cost recovery and ample liquidity.
Total debt to funds from operations was 5.7x for the 12 months ended June 30.
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