Constellation's ratings hit bodes ill for merchant energy players
Constellation Energy's corporate credit rating has been downgraded from BBB+ to BBB by rating agencies Standard & Poor's and Fitch Ratings, while Moody's Investor Services has the firm's rating on a negative outlook, though still at investment grade.
Aneesh Prabhu, a New York-based energy analyst at S&P, says the energy company no longer meets the higher rating requirements because of its exposure to liquidity risk, signifying a major lapse in its risk management, and also its weaker-than
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