Moody’s lifts Tenaska Alabama

Moody's Investors Service said it upgraded the senior secured rating of Tenaska Alabama Partners, LP to Ba1 from Ba2.

The outlook is stable.

The ratings reflect the company’s strong operating performance over an extended period of time, stable cash flows due to contract structure and expectations that these factors will continue, Moody’s said.

The upgrade also considers the strength and conservative approach of the sponsor, Tenaska, which is demonstrated by plant operations and strong management, the agency said.

The upgrade also recognizes the operational oversight of Tenaska Operations, Inc., as well as the presence of a long-term service agreement with General Electric International, which mitigates any operational issues, Moody’s said.

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