S&P: Scana view to negative

Standard & Poor's said it revised the rating outlook on Scana Corp. and its operating subsidiaries to negative from stable.

At the same time, S&P affirmed the BBB+ corporate credit rating on those entities.

Scana is building two new nuclear units at a total cost of about $4.5 billion, with expected in service dates of 2017 and 2018. While the company's credit profile benefits from a constructive regulatory framework, the agency said it expects that its financial risk profile will weaken toward the lower end of the "aggressive" category, leaving little cushion at the current rating level.

"The negative rating outlook on Scana and its subsidiaries reflects the potential for lower ratings absent further efforts and a firm plan that will strengthen the company's financial profile," S&P credit analyst Dimitri Nikas said in a news release.

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