|
|
Article: Fitch Rates San Diego Gas & Electric Mortgage Bonds 'AA'.
- Article from:
- Business Wire
- Article date:
- November 14, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
CHICAGO -- Fitch has assigned an 'AA' rating to San Diego Gas & Electric Company's issuance of $250 million first mortgage bonds 5.30% series due Nov. 15, 2015. The bonds are secured by a lien on property with a net book value of $3.3 billion as of Sept. 30, 2005. Proceeds from the sale will be used to improve and expand utility plant. The Rating Outlook is Stable.
Existing utility plant consists of the electric distribution system and the gas distribution system primarily located in San Diego County. San Diego Gas & Electric Company (SDG&E) also owns a 20% interest in a nuclear generation facility. The California Public Utilities Commission has approved SDG&E's ...