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South Carolina Public Service Authority's Proposed Series 2010C Revenue Bonds Rated 'AA-'; Outlook Stable Dec 10
Standard & Poors, December 2010
NEW YORK (Standard & Poor's) Dec. 3, 2010--Standard & Poor's Ratings Services assigned its 'AA-' long-term rating, and stable outlook, to South Carolina Public Service Authority's (Santee Cooper or the authority) proposed $300 million series 2010C 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. The bonds are payable from the authority's retail and wholesale electric system's net revenues. Santee Cooper plans to use bond proceeds to...
Companies mentioned in this report are: South Carolina Pub Svc Auth
Action: New Rating
Action: Outlook: Stable
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Research type: News
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South Carolina Pub Svc Auth