Company: SREA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001032208-25-000065
Chunk: 137

Company: SEMPRA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 137
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Significant issuances of and payments on long-term debt in the first nine months of 2025 included the following:

LONG-TERM DEBT ISSUANCES AND PAYMENTS(Dollars in millions)Issuances:Amount at issuanceMaturitySempra 6.375% junior subordinated notes$800 2056SDG&E 5.40% first mortgage bonds850 2035SoCalGas 5.45% first mortgage bonds600 2035SoCalGas 6.00% first mortgage bonds500 2055Sempra Infrastructure variable rate notes (ECA LNG Phase 1 project)392 2027Sempra Infrastructure variable rate term loan (PA LNG Phase 1 project)2,130 2030Sempra Infrastructure 6.27% senior secured notes (PA LNG Phase 1 project)750 2042Sempra Infrastructure 6.32% senior secured notes (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