Moody's upgrades Semco to Baa1

Moody's Investors Service said it upgraded the issuer rating of Semco Energy, Inc. to Baa1 from Baa2.

The outlook is stable.

Moody's said the primary driver of the rating action is its more favorable view of the relative credit supportiveness of the U.S. regulatory framework. Factors supporting this view include better cost recovery provisions, reduced regulatory lag and generally fair and open relationships between utilities and regulators. The U.S. utility sector's low number of defaults, high recovery rates and generally strong financial metrics from a global perspective provide additional corroboration for these upgrades.

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