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

  • ID: 2042758
  • January 2012
  • Region: South Carolina
  • Standard & Poors
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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 $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...

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

Action: Affirmed
Action: Downgraded
Action: Outlook: Negative

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- South Carolina Pub Svc Auth

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