Fitch Rates SCANA's $250MM MTNs 'A-'; Outlook Stable

Business Wire, March 6, 2008

NEW YORK -- Fitch Ratings has assigned an 'A-' rating to SCANA Corporation's (SCANA) new $250 million issue of 6.25% fixed-rate senior unsecured medium-term notes (MTNs) due April 1, 2020. Net proceeds from this transaction will be used to redeem outstanding MTNs, reduce SCANA's short-term debt, and for general corporate purposes. The Rating Outlook is Stable.

SCANA's ratings reflect the available cash flows from its regulated utility subsidiaries, South Carolina Electric & Gas Co. (SCE&G) and Public Service Company of North Carolina both of which operate in constructive regulatory jurisdictions. Primary credit concerns are the impact on credit quality of funding the rising capital requirements, primarily at SCE&G, related to environmental upgrades, system expansion and the initial costs of pursuing a new nuclear plant.

SCANA Corporation is an energy-based holding company whose businesses include regulated electric and natural gas utility operations, energy marketing, and other energy-related businesses. SCANA's subsidiaries serve approximately 639,300 electric customers in South Carolina and more than one million natural gas customers in South Carolina, North Carolina, and Georgia.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, 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.