South Carolina Public Service Authority's 2011C Refunding Bonds Assigned 'AA-' Rating; Other Ratings Affirmed Sep 11
- ID: 1886446
- September 2011
- Region: South Carolina
- Standard & Poors
NEW YORK (Standard & Poor's) Sept. 9, 2011--Standard & Poor's Ratings Services has assigned its 'AA-' rating to South Carolina Public Service Authority's (Santee Cooper) proposed $132.36 million series 2011C refunding bonds. The bonds are payable from the authority's retail and wholesale electric system's net revenues. At the same time, Standard & Poor's affirmed its 'AA-' rating on Santee Cooper's existing parity long-term revenue bonds, its 'SP-1+' short-term rating on the authority's 2011A senior-lien LIBOR index bonds that mature within the next three years, and its 'A-1+' short-term rating on the utility's subordinate lien commercial paper. The outlook on the long-term ratings is stable. "In part, the ratings reflect our view of low-cost coal fired generation, which dominates the generation...
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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