Moody’s rates Sempra notes Baa2

Moody's Investors Service said it assigned a Baa2 rating to Sempra Energy's (Baa1) junior subordinated notes due 2079.

The outlook is negative.

“The Baa2 rating assigned to the notes is one notch below Sempra's Baa1 senior unsecured rating and reflects the security's relative position in the company's capital structure compared to its senior unsecured debt,” the agency said in a news release.

“The one notch differential between the notes rating and the senior unsecured rating is consistent with our methodology guidance for notching corporate instrument ratings based on differences in security and priority of claim.”

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