We expect Fortis' large capital spending and a 2018 Federal Energy Regulatory Commission's (FERC) decision to reduce the return on equity (ROE) incentive adder ("ROE adder") at subsidiary ITC Holdings Corp. (ITC) to weaken Fortis Inc.'s credit metrics in 2019. The company's capital program from 2019 to 2021 is about 20% more in total compared to our previous forecast, leading to higher execution risks that could pressure credit metrics during the construction phase. We expect Fortis' large and diversified portfolio of regulated utility operations across the U.S., Canada, and the Caribbean to provide it with sufficient diversity, which in part supports our assessment of the company's excellent business risk. With the sale of the Waneta asset, we expect the company's
