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. On Oct. 18, 2016, S&P Global Ratings 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
