Moody's affirms Elwood Energy

Moody's Investors Service said it affirmed the Ba1 rating on Elwood Energy, LLC's 8.159% senior secured notes following Peoples Energy Corp.'s sale of its interest in Elwood to J-Power USA Development Co., Ltd.

The outlook is stable.

The affirmation and stable outlook reflects Moody's view that Peoples Energy's sale of its interest in Elwood along with the associated changes to various project agreements will not impact credit quality at the project.

The Ba1 rating continues to reflect an expectation of stable financial and operating performance balanced against future exposure to merchant energy markets beginning in part in 2013, the agency said.

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