CHARLESTON, S.C. - A credit-rating agency has improved its outlook for Santee Cooper after legislative changes addressed criticisms about management of the state-owned utility.

Standard & Poor's changed its outlook on Santee Cooper's fiscal health from "negative" to "stable" Tuesday. Although the agency has maintained a high credit rating for the utility, it lowered its outlook in early May. The agency cited then-pending legislation that would have put five people with ties to the utility's biggest customers on its board of directors.

A lowered outlook signals that analysts are troubled by potential problems with the organization.

Analysts at Standard & Poor's said that under the proposed legislation, the utility's biggest customers might have been able to lower rates and make other changes that would help rate-payers but hurt the utility's fiscal fitness. Early drafts of the legislation required that four of the utility's 11-member board have work experience with the state's electric cooperatives, which collectively buy about half of Santee Cooper's power.

Lawmakers changed the legislation to require that only two board members have ties to major customers and passed the amended legislation into law May 25 after overriding a veto by Gov. Mark Sanford.

Standard & Poor's said the revised bill allayed concerns about customers being able to advance their interests to the detriment of the utility.