FINANCING

Bank Credit Arrangements

Bank credit arrangements provide liquidity support to the registrants' commercial paper borrowings and the traditional operating companies' variable rate pollution control revenue bonds. See Note 6 to the financial statements of each registrant (other than Mississippi Power) under "Bank Credit Arrangements" in Item 8 of the Form 10-K and Note 6 to the financial statements of Mississippi Power under "Bank Credit Arrangements" in Item 8 of the Form 10-K/A for additional information.

The following table outlines the committed credit arrangements by company as of June 30, 2013:



	Expires^(a)												Executable Term Loans				Due Within One Year
Company	2013		2014		2016		2018		Total		Unused		One Year		Two Years		Term Out		No Term Out
	(in millions)								(in millions)				(in millions)				(in millions)
Southern Company	$	—	$	—	$	—	$	1,000	$	1,000	$	1,000	$	—	$	—	$	—	$	—
Alabama Power	77		225		—		1,000		1,302		1,301		53		—		53		99
Georgia Power	—		—		150		1,600		1,750		1,740		—		—		—		—
Gulf Power	20		90		165		—		275		275		45		—		45		65
Mississippi Power	40		95		165		—		300		300		25		40		65		70
Southern Power	—		—		—		500		500		486		—		—		—		—
Other	25		75		—		—		100		100		25		—		25		75
Total	$	162	$	485	$	480	$	4,100	$	5,227	$	5,202	$	148	$	40	$	188	$	309

(a) No credit arrangements expire in 2015 or 2017.

As reflected in the table above, during the first six months of 2013, Southern Company and certain of its subsidiaries entered into, amended, or renewed certain of their credit arrangements. In February 2013, Southern Company, Alabama Power, Georgia Power, and Southern Power each amended their multi-year credit arrangements, which extended the maturity dates from 2016 to 2018. In March 2013, Gulf Power and Mississippi Power each amended certain of their credit arrangements, which extended the maturity dates from 2014 to 2016 and, in the case of Mississippi Power, also revised the definition of debt to exclude securitized debt relating to the Kemper IGCC for purposes of calculating the debt covenant under these credit arrangements. See Note (B) under "Integrated Coal Gasification Combined Cycle" herein for information regarding legislation related to the securitization of certain costs of the Kemper IGCC.

Subsequent to June 30, 2013, Alabama Power amended a $10 million credit arrangement, which extended the maturity date from 2013 to 2014. In addition, subsequent to June 30, 2013, Alabama Power amended a $35 million credit arrangement, which extended the maturity date from 2013 to 2015.

Subsequent to June 30, 2013, SEGCO amended a $25 million credit arrangement, which extended the maturity date from 2013 to 2015.

Southern Company and its subsidiaries expect to renew their credit arrangements as needed, prior to expiration.

Most of these arrangements contain covenants that limit debt levels and typically contain cross default provisions that are restricted only to the indebtedness of the individual company. Southern Company and its subsidiaries are currently in compliance with all such covenants.