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; and Management's philosophy towards non-regulated businesses, which emphasizes contractual cash flows and eschews commodity exposure. 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 and partial sale of RBS Sempra Commodities. 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 rating on Sempra reflects its consolidated credit profile, including SoCal Gas and San
