Moody's: PNM Resources view positive

Moody's Investors Service said it changed the outlook of PNM Resources, Inc. and its subsidiaries Public Service Co. of New Mexico and Texas-New Mexico Power Co. to positive from stable.

All ratings were affirmed.

"The positive outlooks acknowledge our view that the New Mexico regulatory framework is improving and becoming more credit supportive" Moody's analyst Jeffrey Cassella said in a news release, "reflecting the use of enhanced recovery mechanisms and implementation of the use of a future test-year in rate case filings."

"The positive outlooks also consider the continuing credit supportive regulatory framework for T&D utilities in ERCOT as well as the strong financial metrics generated at each entity."

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.