Moody's revises Dynegy to positive

Moody's Investors Service said it revised Dynegy Inc.'s outlook to positive from stable and affirmed its B2 corporate family rating, Ba3 (LGD2) senior secured term loan and revolving credit facility and B3 (LGD4) senior unsecured notes.

“The outlook revision reflects the thus far successful process of integrating the assets acquired from Duke Energy Corp. (A3/negative) and Energy Capital Partners, higher-than-expected cost synergies, strong profitability of the acquired gas plants and positive capacity auctions in PJM and ISO-NE,” Swami Venkataraman, Moody’s vice president and senior credit officer, said in an agency news release.

"We could raise Dynegy's rating after the company exhibits at least one full year of operating and financial performance with cash flow to debt ratios exceeding 10%.”

© 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.