Moody's may upgrade Moda Ingleside Energy Center

Moody's Investors Service said it placed the ratings of Moda Ingleside Energy Center, LLC on review for upgrade, including its Ba3 corporate family rating, its Ba3-PD probability of default rating and Ba3 ratings on the company's senior secured credit facilities.

The review of Moda's ratings follows the announcement that Moda and Enbridge Inc. (Enbridge, Baa1 stable) have reached an agreement in which Enbridge will acquire Moda in an all-cash $3 billion deal from Encap Flatrock Midstream. The acquisition, which is subject to regulatory reviews, is expected to close in the fourth quarter 2021.

© 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.