Moody's upgrades CenterPoint

Moody's Investors Service aid it upgraded the senior unsecured ratings of CenterPoint Energy, Inc. to Baa1 from Baa2 and its electric utility subsidiary CenterPoint Energy Houston Electric, LLC to A3 from Baa1.

The outlooks are stable.

"CenterPoint Energy's rating upgrade reflects the low-risk, stable cash flows generated by a diverse portfolio of regulated electric and gas businesses in generally constructive jurisdictions," Moody's vice president, senior analyst Toby Shea said in a news release.

"Also, CenterPoint Energy Houston Electric's rating upgrade factors in its relatively low business and operating risks as a T&D utility; a geographically concentrated but populous service territory with growing demand (~2% per annum); reasonable regulatory support for the company's credit quality; and a record of steady financial performance."

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