S&P applies BBB to Entergy Louisiana

Standard & Poor's said it assigned its BBB issuer credit rating to Entergy Louisiana Power LLC, which will be renamed Entergy Louisiana LLC.

The outlook is positive.

At the same time, the agency affirmed all of the existing issue ratings on the former subsidiaries Entergy Louisiana LLC and Entergy Gulf States Louisiana LLC, including the BBB senior unsecured debt rating and A- senior secured debt rating (the recovery rating on the senior secured debt remains 1+).

S&P said Entergy has received all of the necessary regulatory approvals including the Louisiana Public Service Commission (LPSC), the Federal Energy Regulatory Commission and the Nuclear Regulatory Commission for the merger of its subsidiaries Entergy Louisiana LLC and Entergy Gulf States Louisiana LLC.

The agency expects the merger to be completed on Oct. 1.

At the merger, Entergy Louisiana Power LLC will be renamed Entergy Louisiana LLC. The benefits of the merger include reduced regulatory costs and a more efficient regulatory process for the company and the LPSC, S&P said.

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