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S&P shifts Tenaska Georgia view to negative
S&P said it affirmed the BBB+ issue ratings on Tenaska Georgia Partners LP’s debt and changed the outlook to negative from stable.
The partnership earns all its revenue from its sole counterparty Exelon Generation Co. LLC, and S&P revised the outlook on Exelon to negative from stable on July 21.
Tenaska’s negative outlook reflects that of Exelon, which S&P said it views as irreplaceable. S&P said it would lower Tenaska’s issue ratings if it cuts Exelon’s issuer rating below BBB+.
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