Fitch rates South Carolina Electric & Gas bonds A+

Fitch Ratings said it assigned an A+ rating to the $300 million 6.5% first mortgage bonds due 2018 issued by South Carolina Electric & Gas Co.

The outlook is negative.

Proceeds will be used to reduce short-term borrowings and for other general corporate purposes.

The negative outlook reflects Fitch's expectation of a decline in South Carolina Electric & Gas' currently strong credit quality due to the substantial financial commitment of its plan to construct two nuclear generating units for service in 2016 and 2019, respectively, as well as the construction risk and uncertainties associated with a project of this size and complexity.

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