Fitch: Energy Future notes B

Fitch Ratings said it assigned a B/RR2 to Energy Future Intermediate Holding Co. LLC's proposed $350 million of 11¾% senior secured second-lien notes due 2022.

The outlook is negative.

The proposed notes will be part of the same series as the $800 million of secured second-lien notes due 2022 issued on Feb. 6, the agency said.

Fitch noted that net proceeds from the proposed second-lien issuance will be used to pay a dividend to Energy Future Holding Corp., which will, in turn, use the proceeds to repay a portion of the inter-company loans to Texas Competitive Electric Holdings Co. LLC.

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