S&P rates South Jersey debentures BB+

S&P said it assigned its BB+ issue-level rating to South Jersey Industries Inc.’s proposed junior subordinated debentures due 2079.

“We classify these notes as hybrid securities with intermediate equity content (50% equity treatment). We rate the securities two notches below our BBB long-term issuer credit rating on South Jersey Industries to reflect their subordination and the company's ability to defer interest payments on the notes,” said S&P in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.