Fitch downgrades Scana

Fitch Ratings said it downgraded the issuer default ratings of Scana Corp. and its subsidiaries South Carolina Electric & Gas Co. and Public Service Co. of North Carolina to BBB+ from A-.

The short-term issuer default ratings were affirmed at F2.

The outlook is stable.

Fitch said the downgrades were driven by the financial pressure and increased business risk from South Carolina Electric's plans to construct and finance two nuclear generating units for service in 2016 and 2019, respectively, and a decline in credit quality measures over the past 18 months.

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