Moody’s turns Tenaska outlook to positive

Moody's Investors Service said it affirmed Tenaska Georgia Partners, LP's (TGP) Baa2 rating on its senior secured bonds due 2030 and changed the outlook to positive from stable.

“TGP's Baa2 rating affirmation and change in outlook to positive from stable reflects the improvement of Constellation Energy Generation, LLC (CEG) credit profile whose issuer rating was affirmed at Baa2 and outlook revised to positive from stable on May 10, 2023. CEG's rating serves to limit TGP's credit quality since the project derives all of its revenue and cash flow under a long-term power purchase and sales agreement (PPA) with CEG that expires in 2030,” Moody’s said in a press release.

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