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South Carolina Public Service Authority 2011B Refunding Bonds Rated 'AA-'; Other Ratings Affirmed Aug 11

  • ID: 1886747
  • August 2011
  • Region: South Carolina
  • Standard & Poors
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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: Affirmed
Action: New Rating
Action: Outlook: Stable

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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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- South Carolina Pub Svc Auth

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