Fitch Plans to Withdraw Ratings of SCANA & Subsidiaries

CHICAGO--(BUSINESS WIRE)-- Fitch Ratings plans to withdraw the ratings on SCANA Corp (SCG) and its operating subsidiaries South Carolina Electric and Gas Co. (SCE&G), Public Service Co of North Carolina (PSNC) and South Carolina Fuel Company (SCFC) on or about July 27, 2016, which is approximately 30 days from the date of this press release, for commercial reasons.

Fitch currently rates SCG and its subsidiaries as follows with a Stable Outlook:

SCG

--Long-Term Issuer Default Rating (IDR) at 'BBB-';

--Senior unsecured debt at 'BBB-';

--Short-Term IDR at 'F3';

--Commercial paper at 'F3'.

SCE&G

--Long-Term IDR at 'BBB' ;

--First mortgage bonds at 'A-';

--Senior unsecured debt at 'BBB+';

--Short-Term IDR at 'F2';

--Commercial paper at 'F2'.

PSNC

--Long-Term IDR at 'BBB' ;

--Senior unsecured debt at 'BBB+';

--Short-Term IDR at 'F2';

--Commercial paper at 'F2'.

SCFC

--Commercial paper at 'F2'.

Fitch reserves the right in its sole discretion to withdraw or maintain any rating at any time for any reason it deems sufficient. Fitch believes that investors benefit from increased rating coverage by Fitch and is providing approximately 30 days' notice to the market of the rating withdrawal of SCG and its subsidiaries. Ratings are subject to analytical review and may change up to the time Fitch withdraws the ratings.

Fitch's last rating action for SCG was on June 9, 2016, at which time the ratings were affirmed with a Stable Outlook.

Additional information is available on www.fitchratings.com

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160627006345/en/

Fitch Ratings
Sam G Haddad
Senior Director
Business and Relationship Management
+1-312-368-3190
Fitch Ratings, Inc.
70 West Madison Street
Chicago, IL, 60602
or
Media Relations:
Alyssa Castelli, New York, +1 212-908-0540
Email: [email protected]

Source: Fitch Ratings

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