Moody’s snips System Energy

Moody's Investors Service said it downgraded the ratings of System Energy Resources, Inc., including its first mortgage bonds to Baa2 from Baa1, due to ongoing disputes with several state regulatory commissions regarding SERI's rates and potential refunds related to these rates, which will reduce the company's cash flow going forward.

The agency also lowered SERI’s backed senior secured rating to Baa2 from Baa1 and its senior secured shelf (domestic) rating to (P)Baa2 from (P)Baa1.

In a recent 8-K, Entergy Corp. said it continues to evaluate SERI’s financial viability, the agency noted.

The outlook remains negative.

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