S&P affirms Sempra Energy

Standard & Poor's said it affirmed its ratings on Sempra Energy and its subsidiaries. The corporate credit rating of Sempra and subsidiary Sempra Energy Global Enterprises was affirmed at BBB+ and that of Southern California Gas Co. and San Diego Gas & Electric Co. at A.

The outlook is stable.

S&P said the ratings reflect the consolidated credit profile of Sempra Energy, its wholly owned utility subsidiaries, and various unregulated ventures, which include energy trading, merchant generation, and energy-related investments in Mexico and South America. Regulation in California, which, among other things, mandates that the utilities maintain a 48% equity layer, provides sufficient insulation to separate the corporate credit ratings on the utilities from those of the parent and unregulated subsidiaries.

© 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.