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S&P assigns BBB+ to Sempra Energy debt
S&P said it assigned a BBB+ rating to Sempra Energy's unsecured debt to be issued in multiple tranches with various maturity dates.
The existing ratings on Sempra Energy, including the BBB+ issuer credit rating, are unchanged. The outlook is stable.
“Sempra's debt issuance is in line with our expectations that it will finance the EFH transaction with 65% equity and only about 35% debt. The company also recently issued, in advance of the EFH acquisition, $1.5 billion of mandatory convertible preferred stock, to which we assign 100% equity credit,” S&P said in a news release.
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