NEW YORK (Standard & Poor's) Aug. 18, 2011--Standard & Poor's Ratings Services has assigned its 'AA-' rating to South Carolina Public Service Authority's (Santee Cooper) proposed $280 million series 2011B refunding bonds. At the same time, Standard & Poor's affirmed its 'AA-' rating on Santee Cooper's existing parity long-term revenue bonds, its 'SP-1+' 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. "We believe credit strengths include low-cost coal fired generation, which dominates the generation portfolio and provides customers with favorable wholesale and retail rates but potentially exposes the utility to carbon costs,"...
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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