S&P upgrades Scana

S&P said it upgraded Scana Corp. to BBB+ from BBB- its senior unsecured notes to BBB from BB+.

S&P also raised its short-term and the commercial paper rating on Scana to A-2 from A-3. S&P is removing the ratings from CreditWatch, where they were placed on Dec. 18.

The South Carolina Public Service Commission released an order approving Dominion Energy Inc.'s acquisition of Scana and its subsidiaries South Carolina Electric & Gas Co. (SCE&G) and Public Service Co. of North Carolina (PSNC).

S&P also upgraded SCE&G to BBB+ from BBB- and removed the ratings from CreditWatch. S&P raised the preferred stock ratings to BBB- from BB and the first mortgage bonds ratings to A from BBB+.

S&P also raised the short-term and commercial paper rating on SCE&G to A-2 from A-3.

The agency upgraded PSNC to BBB+ from BBB- and its senior unsecured notes to BBB+ from BBB- and removed the ratings from CreditWatch. S&P also raised the short-term and commercial paper rating on PSNC to A-2 from A-3.

S&P raised its short-term and commercial paper rating on South Carolina Fuel Co. to A-2 from A-3.

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