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Fitch ups CenterPoint Energy
Fitch Ratings said it upgraded the issuer default rating of CenterPoint Energy, Inc. to BBB from BBB- and upgraded its senior unsecured rating to BBB from BBB-.
Fitch also upgraded the issuer default rating of the company's subsidiary CenterPoint Energy Houston Electric, LLC to BBB+ from BBB and upgraded the company's senior unsecured rating to A- from BBB+.
The agency affirmed the issuer default rating of the company's subsidiary CenterPoint Energy Resources Corp. at BBB.
The short-term issuer default was downgraded to F3 from F2, reflecting alignment with the short-term ratings of its parent.
The outlook is stable.
The ratings reflect the consistent progress in improving financial flexibility and reducing consolidated leverage, according to the agency.
The company's debt-to-EBITDA ratio is expected to stay in the low 3x in the next few years.
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