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Moody's ups Reliant Energy to SGL-3
Moody's Investors Service said it changed the speculative-grade liquidity rating for Reliant Energy to SGL-3 from SGL-4.
The SGL-3 rating reflects Moody's view that over the next 12 months the company's liquidity profile is adequate and is expected to meet its over-all funding needs and has improved over its most recent past 12 months.
In the agency's opinion, Reliant's over-all liquidity position is expected to remain reasonably stable over the next 12 months as a result of several recently announced transactions, including a credit hedging sleeve with Merrill Lynch and the refinancing of its corporate credit facilities and associated debt reduction.
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