Moody’s eyes Southeast Supply for trim

Moody’s Investors Service said it placed Southeast Supply Header, LLC’s Baa3 senior unsecured rating on review for downgrade.

“The review for downgrade is prompted by SESH’s largest capacity contract that will expire on Sept. 5, 2020, and has not been renewed. The expiring capacity represents about 55% of the total pipeline’s transportation capacity and is currently subscribed by Florida Power & Light Co. (FPL, A1 stable). Additionally, SESH has a capacity contract expiring on Sept. 5, 2022, with Duke Energy Florida, LLC. (A3 stable), about 14% of total capacity, and will enter a notification period in September 2020. We expect to conclude the review within 60 to 90 days,” according to Edna Marinelarena, a Moody's analyst, in a press release.

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