S&P views CenterPoint Energy negatively

S&P said it revised its outlook for CenterPoint Energy Inc. (CNP) and its subsidiaries to negative from stable and affirmed all its ratings, including its BBB+ issuer rating. The agency also affirmed its ratings on its rated subsidiaries CenterPoint Energy Houston Electric LLC (CEHE), CenterPoint Energy Resources Corp. (CERC), Southern Indiana Gas and Electric Co. (Sigeco), Vectren LLC and Indiana Gas Co. Inc.

“Consolidated debt leverage in 2023 was higher than anticipated due to robust capital spending and weaker operating cash flow at some of its utility subsidiaries. CNP's consolidated capital spending has grown significantly in recent years as it continues to invest in the reliability of its electric and natural gas networks and implements its generation decarbonization strategy at Sigeco,” the agency said in a press release.

The weaker outlook reflects CNP’s persistently weak financial measures for the BBB+ rating.

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