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S&P rates CenterPoint Energy preferreds BBB
S&P said it assigned its BBB issue-level rating to CenterPoint Energy Inc.'s $500 million series A fixed-to-floating rate cumulative redeemable perpetual preferred stock.
The rating is on CreditWatch with negative implications. All existing ratings are unchanged.
CenterPoint intends to use the net proceeds to partly finance the previously announced Vectren Corp. acquisition.
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