Moody's affirms Cedar Brakes

Moody's Investors Service said it affirmed Cedar Brakes I and Cedar Brakes II's Baa3 rating on the senior secured bonds.

The outlook is positive.

The positive outlook reflects the positive outlook on both Public Service Electric & Gas Co. and Constellation Energy Group, the agency said.

The affirmation reflects Cedar Brakes I and II's financial performance, its counterparty ratings and liquidity levels generally commensurate with expectations, the agency added.

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