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Moody’s stabilizes Entergy units view
Moody’s Investors Service said it revised its outlook for Entergy Arkansas, LLC and Entergy Mississippi, LLC to stable from positive and affirmed their ratings, including their Baa1 issuer ratings. The agency also changed its outlook for Entergy New Orleans LLC to stable from negative and affirmed its ratings, including its Ba1 issuer rating.
"EAL and EML's outlooks were changed back to stable because Moody's expects their financial performance to remain consistent with historical levels," said Ryan Wobbrock, a Moody’s vice president and senior credit officer, in a press release.
"There is potential to outperform in any given year; however, Moody's expects that each utility will continue to generate cash flow to debt metrics between 18-20%, on average, which is appropriate for their current Baa1 ratings" added Wobbrock.
For ENOL, "The contentious rhetoric from politicians, regulators and customers exhibited immediately after Hurricane Ida has subsided" said Wobbrock. "While the physical effects of climate change and socially driven policy agendas are very high and ever-present risks for ENOL, Moody's no longer sees customer relationship risks as amplified."
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