Summary: South Carolina Public Service Authority; CP; Note; Wholesale Electric Sep 11
- ID: 1886468
- September 2011
- Region: South Carolina
- Standard & Poors
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. The utility plans to use proceeds to refund a portion of debt outstanding. 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. The ratings reflect our view of the following credit strengths:...
Companies mentioned in this report are:
- South Carolina Pub Svc Auth
Action: New Rating
Action: Outlook: Stable
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