S&P ups Moda Ingleside

S&P said it upgraded Moda Ingleside Energy Center LLC’s rating to BBB+ from BB and removed the rating from CreditWatch, where it was placed with positive implications on Sept. 8.

The upgrade follows Enbridge Inc. closing its acquisition of Moda on Tuesday, the agency said.

Concurrently, S&P withdrew the rating on Moda’s senior secured term loan because it has been fully repaid.

The outlook is stable, the same as Enbridge’s outlook.

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