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Nuclear Utility Moves Up in Credit Ratings, Bank is "Comfortable with Nuclear Strategy"

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Some positive signs that nuclear utilities can continue to receive positive ratings even while they finance new nuclear plants for the first time in decades:
Wells Fargo upgrades SCANA to Outperform from Market Perform

Wells analyst says, "YTD, SCG shares have underperformed the Regulated Electrics (total return +2% vs. +9%). Shares trade at 11.3X our 10E EPS, a modest discount to the peer group median of 11.8X. We view the valuation as attractive given a comparatively constructive regulatory environment and potential for above-average long-term EPS growth prospects ... Comfortable with Nuclear Strategy. SCG plans to participate in the development of two regulated nuclear units at a cost of $6.3B, raising legitimate concerns regarding financing and construction. We have carefully considered the risks and are comfortable with SCG’s strategy based on a highly constructive political & regulatory environment, manageable financing needs stretched out over 10 years, strong partnerships and a competitive EPC contract."
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