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Moody's: Energy Future view developing
Moody's Investors Service said it changed the outlooks for Energy Future Holdings Corp., its intermediate subsidiary holding company, Energy Future Intermediate Holding Co. LLC, and its 80% owned transmission and distribution utility, Oncor Electric Delivery Co. LLC, to developing from negative.
In addition, Moody's affirmed Energy Future's Caa3 corporate family and probability of default ratings.
The ratings for Energy Future Competitive Holdings Co. and Texas Competitive Electric Holdings Co. LLC are affirmed, and the outlook for Texas Competitive remains negative.
Moody's said it views Energy Future's recently announced debt exchange offer as a distressed exchange.
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