Moody's hikes Tenaska Georgia

Moody's Ratings said it upgraded Tenaska Georgia Partners, LP's rating to Baa1 from Baa2 on its senior secured bonds due 2030 and changed the outlook to stable from positive.

The upgrade mirrors the improved credit quality of Constellation Energy Generation, LLC (CEG), whose issuer rating was upgraded to Baa1 from Baa2 and outlook revised to stable from positive on Friday, Moody’s said.

“CEG's credit strength is a key consideration to TGP's credit quality since the project derives all of its revenue and cash flow under a long-term power purchase agreement (PPA) with CEG that expires in 2030,” the agency said in a press release.

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