Fitch: CenterPoint Energy notes BBB

Fitch Ratings said it assigned a BBB rating to CenterPoint Energy Inc.'s $500 million 2.5% senior notes due Sept. 1, 2022.

The outlook is stable.

The long-term issuer default rating is BBB with a stable outlook.

CenterPoint recently announced that it will likely sell its investment in the Enable Midstream Partners LP (long-term issuer default rating BBB-/stable) to a third party or in the open market. It will no longer pursue a spin option, as management indicated that a spin will not support desired credit metrics at both Enable and CenterPoint. The discussions with third parties are ongoing.

Fitch said it believes that an outright sale will likely be a tax-free like-kind exchange, instead of a cash sale, in which CenterPoint will forgo the general partner (GP) and limited partner (LP) ownership in Enable in exchange for the common units of the buyer's investment.

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