Moody's: Borger to negative

Moody's Investors Service said it changed the outlook of Borger Energy Associates, LP to negative from stable.

The company has a Ba3 senior secured rating.

The outlook revision is due to a recent forced outage at unit 1 that has reduced revenues from energy and capacity payments and sales of steam, Moody's said.

The impact of this outage combined with a sustained period of lower gas prices will cause this project's coverage ratios to be below the level commensurate with the ratings level through 2012 and into 2013, the agency said.

The company's unit 2 remains in operation, Moody's said.

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