On Nov. 20, 2008, Standard&Poor's Ratings Services assigned its 'A+' rating and '1+' recovery rating to Southern California Gas Co.'s (SoCal Gas) $250 million of series LL first mortgage bonds due 2014, indicating expectations for a full recovery of principal in a payment default scenario. Proceeds will be used for the expansion and improvement of SoCal Gas's utility plant. As of Sept. 30, 2008, SoCal Gas had about $1.1 billion in debt. SoCal Gas's corporate credit rating is derived from parent Sempra Energy's consolidated credit profile. The ratings on Sempra Energy and its wholly owned utility subsidiaries SoCal Gas and San Diego Gas&Electric Co. (SDG&E) reflect the consolidated profile of the utilities and the unregulated ventures,
