The strong business and financial profiles of Southern California Gas Co. (SoCal Gas) and San Diego Gas&Electric Co. (SDG&E); Fairly supportive regulatory environment in California; Management's philosophy towards nonregulated businesses, which emphasizes contractual cash flows and eschews commodity exposure; and Highly contracted generation business. Aggressive growth plans as a natural gas infrastructure company; Uncertainty in California regarding retail choice, resource adequacy, and renewables, including greenhouse gas restrictions; and Deterioration in financial metrics on account of the EnergySouth Inc. acquisition Standard&Poor's Ratings Services determines Southern California Gas Co.'s (SoCal Gas) corporate credit rating from parent Sempra Energy's consolidated credit profile. The ratings on Sempra Energy and its wholly owned utility subsidiaries SoCal Gas and SDG&E reflect the
