Fitch gives BBB+ to Sempra Energy notes

Fitch Ratings said it assigned a BBB+ rating to Sempra Energy's $500 million 1.625% senior notes due 2019.

The outlook is stable.

Fitch said key rating drivers include: (a) Predictable earnings and cash flows from regulated utility operations and contracted energy infrastructure investments; (b) regulatory environment and recent general rate case (GRC) approval constructive at its California utilities; (c) Cameron project provides stable earnings; (d) balanced expansion in the international and unregulated business segments; and (e) sizeable capital expenditure at the California utilities.

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