More than 90% of consolidated cash flows are from regulated electric and gas utility operations; Supportive regulatory environments in South Carolina and North Carolina; Some operating diversity with operations in two states; and Modestly improving service territory. Increased business risk due to the construction of two new nuclear power plants; Exposure to higher risk retail gas marketing operations; and Aggressive consolidated financial risk profile. The ratings on South Carolina Electric & Gas Co. (SCE&G) reflect the credit profile of its parent, SCANA Corp. SCE&G is SCANA's largest subsidiary and contributes the bulk of the company's consolidated operating income and cash flow (82% for 2010). SCE&G has an excellent business risk profile, characterized by operations under a generally constructive regulatory environment...
Companies mentioned in this report are: South Carolina Electric & Gas Co.,Public Service Co. of North Carolina Inc.,South Carolina Fuel Co.,SCANA Corp.
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