S&P: Sempra Energy unaffected

Standard & Poor's said that the settlement agreement announced by Sempra Energy (BBB+/stable/A-2) and its various subsidiaries to resolve several class action suits, including the Continental Forge case, related to conspiracy charges that Sempra restricted natural gas supplies in 2000 and 2001 removes the principal near-term credit risk to the corporation.

There is, however, no effect on the rating, the agency said, adding it had not factored any explicit financial impact from the anti-trust into its credit ratings, but had noted that any material negative developments in the suit could threaten the ratings outlook and perhaps even the ratings.

The $350 million in settlement payments will not have a material effect on the company's strong and stable financial profile, S&P added.

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