Fitch rates Sempra Energy notes BBB+

Fitch Ratings said it assigned a BBB+ rating to Sempra Energy's $500 million issue of 2.875% senior notes due Oct. 1, 2022.

The outlook is stable.

The proceeds will be used for general corporate purposes, including the repayment of commercial paper, Fitch said.

The ratings reflect its financial strength underpinned by its regulated utilities in California and by its contracted energy infrastructure investments, the agency said.

The utilities are expected to continue to benefit from constructive regulation in California that includes various mechanisms providing for timely recovery of costs, Fitch said.

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