Fitch Ratings has assigned a 'BBB' rating to SCANA Corporation's (SCANA) new $150 million issue of enhanced junior subordinated notes. The notes will mature on Jan. 30, 2065, subject to extensions no later than Jan. 30, 2080. The notes will be subordinate and junior to all senior indebtedness of SCANA. SCANA intends to use the proceeds to provide funds to its utility subsidiary South Carolina Electric & Gas Company (SCE&G) to redeem its outstanding preferred stock (approximately $123 million) and for general corporate purposes. The Rating Outlook is stable.The notes will pay a fixed 7.7% rate of interest. SCANA has
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