PORT HURON, Mich., Aug. 21 /PRNewswire/ -- SEMCO ENERGY, Inc.
(Nasdaq: SMGS) today announced it has received a preliminary investment grade
senior debt rating of "Baa1" from Moody's Investors Services. Moody's had not
previously rated SEMCO ENERGY's securities. Credit ratings characterize the
degree of investment risk a purchaser would assume in holding a debt security.
With the rating, SEMCO ENERGY adds Moody's assignment to its Standard & Poor's
investment grade "BBB" status which, together, further strengthens the
Company's ability to access the public financial markets at more reasonable
According to Moody's, the rating reflects the strength and relative
stability of SEMCO ENERGY's regulated gas distribution business, which
benefits from an above-average growth rate and the Company's management of its
growth in both regulated and unregulated businesses.
"We're very pleased with the progress thus far -- our recent stock
offering and this credit rating are right in step with our plan to increase
SEMCO's financial strength and continually enhance shareholder value," said
Chief Financial Officer Robert J. Digan, II.
SEMCO ENERGY is an energy-focused holding company. It has three
subsidiaries: 1) SEMCO ENERGY GAS COMPANY distributes regulated natural gas to
240,000 customers in Michigan's Upper and Lower Peninsula; 2) SEMCO ENERGY
SERVICES markets gas and related services and 3) SEMCO ENERGY VENTURES
operates and acquires companies involved in natural gas pipeline and
distribution system construction, construction engineering and propane
SOURCE SEMCO ENERGY, Inc.
CONTACT: Edric R. Mason, Jr. of SEMCO ENERGY, 810-989-4104, or fax, 810-987-4098