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

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

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 $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

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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Note: Product cover images may vary from those shown

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