S&P ups CenterPoint's view to stable

Standard & Poor's said it affirmed its BBB corporate credit ratings on CenterPoint Energy Inc. and its subsidiaries, CenterPoint Energy Houston Electric and CenterPoint Energy Resources Corp. and revised its outlook on the companies to stable from negative.

The outlook revision reflects CenterPoint's progress on recovering stranded costs of generation assets related to the Texas electric restructuring law and the sale of its generation assets.

The action also reflects a review of the company's performance, strategy, prospects going forward, and liquidity, S&P said

As part of the review, CenterPoint's business risk profile was changed to 2 from 3, reflecting S&P's view of lower regulatory risk as a result of progress on its stranded cost recovery.

S&P also said the company's business risk profile was changed to 4 from 3, reflecting the influence of the unregulated retail gas marketing business and gas-gathering businesses and the potential for growth in the unregulated space on the company's risk profile. CenterPoint's consolidated business profile remains unchanged at 3.

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