S&P revises CenterPoint view to stable

S&P said it revised CenterPoint Energy Inc.’s outlook to stable from negative and affirmed its BBB+ issuer credit rating.

Concurrently, S&P affirmed and changed the outlooks to stable from negative for CenterPoint Energy Houston Electric LLC, CenterPoint Energy Resources Corp., Vectren Corp., Vectren Utility Holdings Inc., Southern Indiana Gas & Electric Co. and Indiana Gas Co. Inc.

The changes in outlook and affirmations follow CenterPoint Energy’s support for the merger between Enable Midstream Partners LP and Energy Transfer LP. Upon completion, CPE will receive about 6.5% ownership of ET common units for its 53.7% ownership of Enable common units. In addition, CPE will exchange the $363 million holding of Enable series A non-cumulative preferred shares for about $385 million of ET series G fixed-rate reset cumulative redeemable perpetual preferred units.

“The stable outlook reflects our expectation of consistent financial measures following the Enable sale to ET,” S&P said in a press release.

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