Fitch Ratings has assigned an 'F2' rating to SCANA Corp.'s (SCG) new $200 million commercial paper program. CP borrowings are fully backed by SCG's $200 million bank credit facility that matures Dec. 19, 2011.The 'F2' commercial paper rating is based on the cash flow streams available from the company's two regulated utility subsidiaries, South Carolina Electric and Gas Co. (SCE&G, 'BBB+' IDR) and Public Service Company of North Carolina (PSNC, 'BBB+' IDR), which account for approximately 96% of consolidated net income, and the backup liquidity support provided by a committed bank credit facility. SCG's $200 million syndicated credit facility provides
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