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South Carolina Public Service Authority Revenue Refunding Obligations 2010B Rated 'AA-'; Other Ratings Affirmed Oct 10 Product Image

South Carolina Public Service Authority Revenue Refunding Obligations 2010B Rated 'AA-'; Other Ratings Affirmed Oct 10

  • ID: 1815097
  • October 2010
  • Region: South Carolina
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) Oct. 13, 2010--Standard & Poor's Ratings Services has assigned its 'AA-' rating to South Carolina Public Service Authority's (Santee Cooper or the authority) proposed $181 million series 2010B refunding revenue obligations. At the same time, Standard & Poor's affirmed its 'AA-' long-term and underlying ratings on Santee Cooper's existing long-term debt, its 'SP-1+' short-term rating on the utility's senior-lien $220 million series 2010A LIBOR index bonds that will mature within one year, and its 'A-1+' short-term rating on Santee Cooper's subordinate lien commercial paper. The outlook on the long-term ratings is stable. "Low-cost coal fired generation dominates the generation portfolio and provides customers with favorable wholesale and retail rates, but potentially exposes the utility to...

Companies mentioned in this report are:
- South Carolina Pub Svc Auth

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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- South Carolina Pub Svc Auth

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