Moody's rates CenterPoint program Prime-3

Moody's Investors Service said it assigned a Prime-3 short-term rating to CenterPoint Energy Resources Corp.'s newly created $950 million commercial paper program.

The outlook is stable.

The agency said that CenterPoint's short-term rating and stable outlook reflect its sufficient internal and external liquidity for the next 12 months as well as our over-all assessment of the company's business, operating and financial risk profile over the intermediate and longer-term horizon.

The $950 million commercial paper program will be backed by the company's $950 million revolving credit facility, which was put in place in June of this year and extends until June 2012, the agency added.

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