Moody's may up CenterPoint Energy, loans Ba2, Ba3, Baa2

Moody's Investors Service said it placed the ratings of CenterPoint Energy Inc. (Ba2 senior unsecured) and CenterPoint Energy Resources Corp. (Ba1 senior unsecured) on review for possible upgrade.

Moody's also revised the rating outlook for CenterPoint Energy Houston Electric LLC (Baa2 senior secured) to stable from negative.

In addition, Moody's assigned ratings to CenterPoint and CenterPoint Houston's bank credit facilities. Moody's assigned a Ba2 rating to CenterPoint's $1.0 billion unsecured bank credit facility expiring in 2010, a Baa3 rating to CenterPoint Houston's $200 million unsecured revolving credit facility expiring in 2010 and a Baa2 rating to CenterPoint Houston's $1.31 billion back-stop facility.

Moody's said the review for possible upgrade for CenterPoint reflects the progress made to date with respect to the company's debt reduction plans as a result of the sale of the Texas Genco operations, the steady financial improvements being generated at CenterPoint Resources and the progress to date at CenterPoint Houston with respect to its 2004 True-Up proceeding and the prospect for near-term recoveries associated with its True-up balance.

© 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.