Fitch: San Diego Gas bonds AA-

Fitch Ratings said it assigned an AA- rating to San Diego Gas and Electric Co.'s $250 million 3.95% first mortgage bonds, series LLL, due 2041.

The outlook is stable.

The ratings reflect the company's predictable earnings and cash flows from regulated utility operations, along with its solid financial profile, Fitch said.

The ratings also consider the balanced regulatory environment in California and significant capital expenditure program in progress, the agency said.

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