Fitch affirms Scana

Fitch Ratings said it affirmed the BBB+ issuer default ratings of Scana Corp. and its regulated subsidiary Public Service Co. of North Carolina. Fitch also affirmed Scana's senior debt at BBB+, junior subordinated notes at BBB-, short-term issuer default rating at F2 and commercial paper at F2.

Fitch also affirmed Public Service's senior debt at A-, short-term issuer default rating at F2 and commercial paper at F2.

The outlook is stable.

Scana's ratings reflect the earnings and cash flow predictability of its regulated utilities, which account for about 96% of consolidated net income, constructive regulation in both South Carolina and North Carolina where the subsidiaries operate and a solid liquidity position, the agency said.

The ratings recognize that financial measures will remain below Fitch's guideline ratios over the next several years, the agency said.

Public Service's ratings reflect solid credit metrics for this low-risk gas distribution company that fully support the existing rating, the agency added.

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