South Carolina Public Service Authority's Proposed Series 2010C Revenue Bonds Rated 'AA-'; Outlook Stable Dec 10
Standard & Poors, December 2010
Abstract
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: 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.
South Carolina Pub Svc Auth
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