Fitch rates CenterPoint Energy commercial paper F3

Fitch Ratings said it assigned an F3 rating to CenterPoint Energy, Inc.'s $1 billion commercial paper program.

At the same time, CenterPoint's outstanding senior unsecured debt securities are affirmed at BBB- and its trust preferred securities and zero premium exchangeable notes at BB+. The outlook is stable.

Commercial paper borrowings will be backed by the company's $1 billion five-year committed revolving credit facility maturing on March 7, 2010 and will be available for general corporate purposes.

Fitch said the outlook and ratings reflect the company's progress in reducing consolidated debt with net proceeds from the recently concluded sale of Texas Genco Holdings and the expectation that key credit measures will ultimately strengthen to levels commensurate with the rating upon execution of CenterPoint's planned stranded cost securitization.

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