Home Credit Ratings and Research S&P Global Ratings’ Credit Research Fortis Inc.

Fortis Inc. And Subsidiaries Outlook To Stable From Negative On Completion Of ITC Holdings Corp. Acquisition

Published Oct 18, 2016

4 pages (1677 words) — Published Oct 18, 2016

Price US$ 150.00 | Buy this Report Now

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Abstract:

On Oct. 14 2016, St. John's, Nfld.-based utility holding company Fortis Inc. announced the closing of its US$11.3 billion acquisition of ITC Holdings Corp., a U.S.-based electricity transmission operator. We are revising our outlook on Fortis and its subsidiaries, FortisAlberta Inc. and Caribbean Utilities Co. Ltd., to stable from negative. We are also affirming our ratings on Fortis and its subsidiaries. The stable outlook reflects the closing of the transaction consistent with our expectations including the sale of 19.9% of ITC to an infrastructure-focused minority investor. TORONTO (S&P Global Ratings) Oct. 18, 2016--S&P Global Ratings today said it revised its outlook on St. John's, Nfld.-based utility holding company Fortis Inc. to stable from negative. At the same time, S&P Global

Brief Excerpt:

...+ On Oct. 14 2016, St. John's, Nfld.-based utility holding company Fortis Inc. announced the closing of its US$11.3 billion acquisition of ITC Holdings Corp., a U.S.-based electricity transmission operator. + We are revising our outlook on Fortis and its subsidiaries, FortisAlberta Inc. and Caribbean Utilities Co. Ltd., to stable from negative. + We are also affirming our ratings on Fortis and its subsidiaries. + The stable outlook reflects the closing of the transaction consistent with our expectations including the sale of 19.9% of ITC to an infrastructure-focused minority investor. TORONTO (S&P Global Ratings) Oct. 18, 2016--S&P Global Ratings today said it revised its outlook on St. John's, Nfld.-based utility holding company Fortis Inc. to stable from negative. At the same time, S&P Global Ratings revised its outlook on Fortis subsidiaries FortisAlberta Inc. and Caribbean Utilities Co. Ltd. to stable from negative. S&P Global Ratings also affirmed its ratings on Fortis and its subsidiaries,...

Report Type:

Ratings Action

Ticker

FTS@CN

Issuer

Fortis Inc.

GICS

Electric Utilities (55101010)

Sector

Global Issuers

Country

Canada

Region

Europe, Middle East, Africa

Format:

PDF

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Fortis Inc. And Subsidiaries Outlook To Stable From Negative On Completion Of ITC Holdings Corp. Acquisition" Oct 18, 2016. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Fortis-Inc-And-Subsidiaries-Outlook-To-Stable-From-Negative-On-Completion-Of-ITC-Holdings-Corp-Acquisition-1738163>

APA:	S&P Global Ratings’ Credit Research. (). Fortis Inc. And Subsidiaries Outlook To Stable From Negative On Completion Of ITC Holdings Corp. Acquisition Oct 18, 2016. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Fortis-Inc-And-Subsidiaries-Outlook-To-Stable-From-Negative-On-Completion-Of-ITC-Holdings-Corp-Acquisition-1738163>

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