Outlook On South Carolina Public Service Authority's Long-Term Debt Revised To Negative; Commercial Paper Downgraded Jan 12

Standard & Poors, January 2012

Abstract
NEW YORK (Standard & Poor's) Jan. 6, 2012--Standard & Poor's Ratings Services has revised its outlook on South Carolina Public Service Authority's (Santee Cooper) long-term debt to negative from stable. At the same time, Standard & Poor's lowered to its short-term rating on the utility's subordinate-lien commercial paper (CP) to 'A-1' from 'A-1+'. In addition, Standard & Poor's assigned its 'AA-' rating, with a negative outlook, to the utility's proposed $241 million series 2012A and B refunding bonds. Standard & Poor's also affirmed its 'AA-' ratings on Santee Cooper's senior-lien debt, and its 'SP-1+' short-term rating on the authority's 2011A senior-lien LIBOR index bonds. "The revised outlook reflects our view that the utility's financial performance could suffer because Santee Cooper...

Companies mentioned in this report are: South Carolina Pub Svc Auth
Action: Affirmed
Action: Downgraded
Action: Outlook: Negative

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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.

South Carolina Pub Svc Auth

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