Moody's Downgrades Centrica (Direct Energy Parent) Credit Ratings

Centrica issued a statement noting the announcement from Moody's Investor Service (Moody's) that Moody's is downgrading the issuer and senior unsecured long-term credit ratings of Centrica to Baa2 (stable outlook) from Baa1 (negative outlook).

Centrica said that, "This brings the Moody's ratings in line with the current BBB (stable outlook) rating from S&P Global Ratings ('S&P'). As a result, the impact of this change on Centrica and its operations is expected to be negligible."

"Centrica reaffirms that, as part of its financial framework, it continues to target strong investment grade credit ratings," Centrica said