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South Carolina Public Service Authority; CP; Wholesale Electric Oct 08
Standard & Poors, October 2008
Standard & Poor's Ratings Services has assigned its 'AA-' rating to South Carolina Public Service Authority's (Santee Cooper or the authority) proposed $300 million series 2008A tax-exempt revenue obligations and $200 million series 2008B taxable revenue obligations. The outlook is stable. Bond proceeds will support the authority's capital program. At the same time, Standard & Poor's affirmed its 'AA-' rating and underlying rating on Santee Cooper's existing long-term debt and its 'A-1+' rating on its subordinate lien commercial paper. The outlook on the long-term rating is stable. The Moncks Corner, S.C.-based utility reported $3.5 billion of long-term debt as of Dec. 31, 2007, up $330 million from a year earlier. The ratings reflect the following strengths: Low-cost coal fired generation...
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.
Research Type: Full Analysis
South Carolina Pub Svc Auth