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Summary: South Carolina Pub Svc Auth; Utility, CP; Utility, Wholesale Electric Jan 05
Standard & Poors, January 2005
On Jan. 21, 2005, Standard & Poor's Ratings Services assigned its 'AA-' rating to the South Carolina Public Service Authority's (Santee Cooper) proposed $260 million 2005 refunding series B revenue obligations. The bonds, which mature in 2023, are issued to refund a portion of Santee Cooper's existing debt. The ratings on Santee Cooper reflect the following strengths: A strong competitive position characterized by efficient operations, low-fixed costs, and reasonable systemwide load factors. Santee Cooper's substantial coal fired generation (55% of total capacity; 75% of total energy) contributes to wholesale rates that are competitive and below those of both the state and the national averages, providing existing customers with little incentive to switch electricity suppliers. The utility's long-term contracts with wholesale...
Companies mentioned in this report are: South Carolina Pub Svc Auth
Action: New Rating
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
South Carolina Pub Svc Auth