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Summary: South Carolina Public Service Authority; CP; Note; Wholesale Electric Jan 12 Product Image

Summary: South Carolina Public Service Authority; CP; Note; Wholesale Electric Jan 12

  • ID: 2039533
  • January 2012
  • Region: South Carolina
  • Standard & Poors

Abstract
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 $235.7 million series 2012A, B, C, and D 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 is struggling to shed more...

Companies mentioned in this report are:
- South Carolina Pub Svc Auth

Action: Affirmed
Action: Downgraded
Action: Outlook: Negative

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