S&P downgrades Scana

Standard & Poor's said it lowered the corporate credit ratings on Scana Corp., South Carolina Electric & Gas Co. and Public Service Co. of North Carolina to BBB+ from A-.

The outlook is stable.

The downgrade reflects higher business risk associated with SCE&G's plans to build two new nuclear units along with the need to source a meaningful amount of external financing to complete the projects, according to the agency.

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