Moody's confirms Reliant Energy

Moody's Investors Service said it has confirmed Reliant Energy's B2 corporate family, B2 senior secured, B3 long-term issuer and Caa1 senior subordinated ratings.

In addition, Moody's said it confirmed the B3 senior unsecured rating for Orion Power Holdings and the B2 senior secured rating for Reliant Energy Mid-Atlantic Holdings.

The outlook for Reliant, Orion and Reliant Energy Mid-Atlantic is stable, changed from rating under review, which incorporates Moody's view that Reliant will be successful with its goal to execute an enhanced liquidity structure with a higher rated counterparty.

The B3 senior unsecured rating and stable rating outlook for Orion and the B2 senior secured (pass-through certificates) rating and stable rating outlook for Reliant Energy Mid-Atlantic primarily reflect the ratings and outlook for the parent company, Reliant Energy.

In addition, Moody's affirmed Reliant's SGL-4 speculative grade liquidity rating.

The outlook actions include Orion Power Holdings, Inc.'s senior unsecured regular bond/debenture confirmed at B3; Pennsylvania Economic Dev. Fin. Auth.'s senior secured revenue bonds confirmed at B2; Reliant Energy's corporate family rating, confirmed at B2, issuer rating confirmed at B3, senior secured bank credit facility confirmed at B2, senior secured regular bond/debenture confirmed at B2, senior subordinated convertible/exchangeable bond/debenture confirmed at Caa1; and Reliant Energy Mid-Atlantic Power Holdings, LLC's senior secured pass-through confirmed at B2.

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