S&P Global Ratings raised its issuer credit rating (ICR) on Cheniere Energy Inc. (CEI) to 'BBB' from 'BB+'. S&P Global Ratings also raised its rating on CEI's senior unsecured debt to 'BBB-' from 'BB+'. The upgrade stems from robust cash flow as a result of high liquefied natural gas (LNG) prices and continued deleveraging. The stable outlook is based on our expectation of continued strong cash flow from the company's strong contractual foundation even as LNG prices stabilize. CEI has committed to reducing overall debt in the complex with the goal of attaining and maintaining an investment-grade rating. With the additional cash flow generated during the year, the company expedited the debt paydown commitment and is expected to repay about
