Fridge Defrosted, and my Bacon was sitting in water.. Is it good?

So I was out of power for a little over 24 hours. The Freeze in my fridge thawed, and all the water ran into a tray, which only contain (what was frozen) bacon. The bacon was brand new, but now it's not red like it was and it's now somewhat grey... but I don't see how it could go bad after just 24 hours? ... Your Thoughts?