Moody’s changes Sempra Energy to negative

Moody's Investors Service said it changed the outlook for Sempra Energy to negative from stable and affirmed its ratings, including the Baa1 senior unsecured and issuer ratings.

"Sempra has taken a big step towards completing the acquisition of Oncor," Moody’s vice president, senior analyst Natividad Martel said in a news release.

"This transaction is cash flow coverage dilutive to Sempra and key financial metrics will be lower for longer."

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