S&P cuts Energy Future notes

Standard & Poor's said it corrected the issue-level ratings on Energy Future Holding Corp.'s $2 billion of 10 7/8% cash-pay senior notes and $2.5 billion of 11¼% senior pay-in-kind toggle notes to CCC from CCC+ and revised the recovery ratings to 6 from 5.

The company has a B- corporate credit rating and a negative outlook.

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