01:05 PM EDT, 05/30/2024 (MT Newswires) -- Moody's on Wednesday affirmed the ratings of Emera ( EMRAF ) , including its "Baa3" senior unsecured and issuer rating and "Ba2" subordinated debt rating, and Emera US Finance LP's guaranteed "Baa3" senior unsecured rating.

Additionally, the rating agency affirmed the ratings of Tampa Electric including its "A3" senior unsecured and issuer rating and "P-2" short-term rating for commercial paper, and the "Baa1" senior unsecured bank credit facility rating of TECO Finance Inc.

The rating outlooks for all four companies remain negative.

"Emera's ( EMRAF ) negative outlook reflects persistently weak financial metrics and our view that the announced sale of its ownership interest in Labrador-Island Link Limited Partnership (LIL LP, unrated) will be insufficient to improve financial metrics to a degree that supports the current Baa3 rating" Yulia Rakityanskaya, Moody's analyst, said.

Price: 46.90, Change: +0.57, Percent Change: +1.23