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Moody's upgrades CenterPoint
Moody's Investors Service said it upgraded the senior unsecured rating of CenterPoint Energy Inc. to Baa2 from Baa3 and the senior unsecured rating of its subsidiary, CenterPoint Energy Houston Electric LLC, to Baa1 from Baa2.
In addition, Moody's upgraded CenterPoint's short-term rating to Prime-2 from Prime-3.
The ratings of CenterPoint's other major subsidiary, CenterPoint Energy Resources Corp., were affirmed.
The outlooks for all three entities are stable.
Moody's said the rating upgrade reflects its assessment of CenterPoint Energy Houston's and CenterPoint's recent financial results and future financial prospects, driven by CenterPoint Energy Houston's stable and improved Transmission and Distribution utility business, which benefits its parent CenterPoint.
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