Moody

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Moody's downgraded Energy Future Holding's corporate family rating and probability ofdefault rating, while holdinf its speculative grade liquidity rating stable -- an actionm that shows the company has sufficient liquidity for the next four Moody’s said in a Dallas-based Energy Future Holdings Corp., a private energ company with subsidiaries that include , Onco r and , responded to the Moody’s report, saying the compangy continues to perform well in a difficult economic The Moody’s report said EFH’s corporat e family rating dropped due to concern about the company’s high businesws and operating risk profile, which is driven by “extreme amounts of leverage and limited financial Moody’s asserted.
EFH has about $37 billion of totap consolidated debt, which doesn't include Oncor debt. Oncor's ratings were unaffected. Moody'e added the company's ability to service the debt has been impactedr by current weak commodity amongother issues. Jim Hempstead, senior vice presidenf of Moody's elaborated on that saying: "EFH’sz business model does not appear to be sustainable overthe long-ternm horizon given it leverage, its debt servicee requirements, exposure to commodity prices and limited financial Lisa Singleton, a spokeswoman for Energy Futurse Holdings, said on Fridayy that the company has access to sufficienr liquidity and capital as detailed in its Dec.
31, public filing. She added that at the time of theDecemberf report, the company’s availablew liquidity stood at $4.5 billion. “We don’t have anything cominf due in thenear future,” Singleton added when askedc about payments due on lines of “We actually have very minimal debt maturities until after 2013.” Singleton also said Moody’s report references many externalp factors that are currently impacting a lot of companiess in today’s economy.