Moody's affirms OGE Energy

Moody's Investors Service said it affirmed OGE Energy Corp.'s senior unsecured rating at Baa1/ P-2 short-term, Enogex LLC senior unsecured rating at Baa3 and Oklahoma Gas and Electric Co. senior unsecured rating at A2 / P-1 short-term.

The outlook is stable.

The action was prompted by OGE's announcement that it was selling a 9.9% stake in Enogex to ArcLight Capital Partners for about $183 million in cash. Because those proceeds will go to OGE, this joint venture has no immediate credit impact on Enogex, the agency said.

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