Company: SREA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001032208-25-000065
Chunk: 376

Company: SEMPRA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 376
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 (PA LNG Phase 1 project)250 2042Payments:PaymentsMaturitySoCalGas 3.20% first mortgage bonds$350 2025Sempra 3.30% notes750 2025Sempra Infrastructure variable rate notes (ECA LNG Phase 1 project)236 2027Sempra Infrastructure variable rate term loan (PA LNG Phase 1 project)983 2030Sempra Infrastructure loan at variable rates (4.03% after floating-to-fixed rate swap effective 2019) payable June 15, 2022 through November 19, 203425 2034

We discuss our long-term debt activities, including the use of proceeds on long-term debt issuances, in Note 7 of the Notes to Condensed Consolidated Financial Statements.

Credit Ratings

We provide additional information about the credit ratings of Sempra, SDG&E and SoCalGas in “Part I – Item 1A. Risk Factors” and “Part II – Item 2. MD&A – Capital Resources and Liquidity” in the Annual Report.

The credit ratings of Sempra, SDG&E and SoCalGas remained at investment grade levels in the first nine months of 2025. 

CREDIT RATINGS AT SEPTEMBER 30, 2025   SempraSDG&ESoCalGasMoody’sBaa2 with a negative outlookA3 with a stable outlookA2 with a stable outlookS&PBBB+ with a negative outlookBBB+ with a stable outlookA- with a stable outlookFitchBBB+ with a stable outlookBBB+ with a stable outlookA with a stable outlook

A downgrade of Sempra’s or any of its subsidiaries’ credit ratings or rating outlooks may, depending on the severity, result in the imposition of new financial or other burdensome covenants or a requirement for collateral to be posted in the case of certain financing arrangements and may materially and adversely affect the market prices of their equity and debt securities, the rates at which borrowings are made and commercial paper is issued, and the various fees on their outstanding credit facilities. This could make it more costly for Sempra, SDG&E, SoCalGas and Sempra’s other subsidiaries to issue debt or equity securities, to borrow under credit facilities and to raise certain other types of financing. We provide additional information about our credit ratings at Sempra, SDG&E and SoCalGas in “Part I – Item 1A. Risk Factors” in the