Moody’s shifts CenterPoint view to stable

Moody’s Investors Service said it changed the outlook for CenterPoint Energy, Inc. to stable from negative and affirmed its ratings, including the Baa2 senior unsecured bond and Ba1 preferred stock ratings.

“CenterPoint has executed its non-regulated business divestitures, issued $1.4 billion of equity and repaid parent company debt,” said Robert Petrosino, a Moody’s vice president and senior analyst, in a press release. “These corporate actions have stabilized credit metrics and improved liquidity.”

CenterPoint still carries parent debt of around 28% of consolidated debt, down from 33% as of April. The agency said it expects its CFO pre-WC to debt ratio to be above 14% over the next 12 to 18 months, up from 13% in 2019.

© 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.