Santee Cooper cross generation power plant in Pineville, S.C. Fitch Ratings upgraded the utilty's bonds due to its expectation that the utility's financial profile will continue improving. Bloomberg NewsFitch Ratings upgraded South Carolina Public Service Authority's (Santee Cooper) rating to A from A-minus, citing the utility's very strong revenue defensibility and the belief that its financial profile will continue improving. Cash flow and operating income increased following expiration of a five-year rate lock agreement, reinstatement of cost recovery adjustments and an April 2025 rate increase, Fitch said. "Financial metrics are likely to improve further through 2028, supported by growing electric sales and modest annual rate increases," Fitch said. Santee Cooper is a state-owned electric and water utility that had $8.6 billion in long-term debt, as of Dec. 31, 2025, according to its Annual Comprehensive Financial Report.