S&P puts OGE Energy on positive watch

Standard & Poor's said it placed the long-term corporate credit and issue level ratings on OGE Energy and Oklahoma Gas & Electric on CreditWatch with positive implications.

Resolution of the CreditWatch status will be completed around successfully closing the formation of the joint venture with CenterPoint Energy in line with S&P's expectations.

The CreditWatch status of OGE Energy and OG&E reflects the potential for higher ratings from the strengthening of the consolidated business risk profile to "excellent" and maintenance of the existing financial risk profile of "significant."

OGE Energy will contribute Enogex's higher risk midstream assets to a joint venture with CenterPoint Energy. This will result in OGE Energy owning a vertically integrated fully regulated electric utility and an ownership interest in the midstream joint venture.

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