S&P upgrades Semco

S&P said it upgraded the rating on Semco Energy Inc. to BBB from BBB- and removed the ratings from under criteria observation. Concurrently, S&P raised the rating on the company’s senior secured notes to A- from BBB+.

The upgrade follows the agency’s review of how well Semco is insulated from its parent AltaGas. The assessment showed S&P said the company’s stand-alone credit profile and the protections in place warranted the upgrade.

The outlook is stable.

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