S&P affirms Southern California Gas

S&P said it affirmed its A issuer credit rating on Southern California Gas Co.

The outlook remains negative.

The agency also affirmed the A-1 short-term rating, the A rating on the company's senior unsecured debt, the BBB+ rating on its preferred stock and the A+ rating on its first-mortgage bonds.

“The affirmation of our issuer credit rating on SoCalGas reflects our assessment of its stand-alone credit profile (SACP) as well as the cumulative value of regulatory protections in place that we assess as providing sufficient insulation to rate SoCalGas' issuer credit rating two notches above parent Sempra Energy's group credit profile (GCP),” S&P said in a news release.

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