S&P: Sempra unaffected

Standard & Poor's said that the settlement agreement announced by Sempra Energy with the County of Los Angeles and 11 other individual plaintiffs in the Continental Forge case will not affect ratings on Sempra Energy or its affiliates.

While the terms of the settlement were not made public, the amount involved is small and will not materially affect Sempra Energy's balance sheet or cash flows, the agency said.

Nevertheless, S&P noted that the litigation continues to pose legal risk. Remaining plaintiffs include the cities of Long Beach and Los Angeles, an individual business and class-action lawsuit members. S&P said the jury trial on the class-action lawsuit began on Oct. 26.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.