Moody's confirms TransAlta

Moody's Investors Service said it confirmed TransAlta Corp.'s Baa2 senior unsecured ratings.

The outlook is stable. The action concludes the review for downgrade begun on July 21 following the announcement of the unsolicited bid for Canadian Hydro Developers.

The confirmation reflects the fact that TransAlta has effectively acquired all of Canadian Hydro's outstanding shares and the strategic fit of the companies' renewable electric generation assets, according to the agency.

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