Fitch Withdraws Rtgs For Houston Industries FinanceCo.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 6, 2002 Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has withdrawn its 'F2' rating for Houston Industries FinanceCo, LP's (FinanceCo) $2.4 billion commercial paper (CP) program. In addition, the 'BBB' rating for FinanceCo's $4.3 billion senior unsecured bank facility is withdrawn. The withdrawal of FinanceCo's ratings relates to the formation of CenterPoint Energy CenterPoint Energy (NYSE: CNP) is an electric and natural gas utility serving several markets in the U.S. states of Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma, and Texas. , Inc. (CNP (Certified Network Professional) A professional designation and accreditation given to individual IT networking professionals by the Network Professional Association (www.npa.org). ; 'BBB-' senior unsecured debt Unsecured debt Debt that does not identify specific assets that the debtholder is entitled to in case of default. rating, Rating Outlook Negative) and related restructuring of Reliant Energy Reliant Energy, Inc., based in Houston, Texas, is a non-utility, retail and wholesale electricity provider. In Texas, it provides service to nearly 1.9 million retail electricity customers, including residential and small business customers and commercial, industrial, , Inc. (REI). As part of the restructuring, FinanceCo's outstanding CP and bank debt obligations were transferred to CNP, the new holding company for REI's regulated electric and gas businesses. For a complete description of Fitch's prior rating action related to the REI/CNP restructuring , please see Fitch's press release dated July 18, 2002, 'Fitch Ratings Downgrades Reliant Energy In Anticipation of Restructuring', available on the Fitch Ratings web site at 'www.fitchratings.com'. |
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