S&P affirms ITC Great Plains

S&P said it affirmed its A- issuer credit rating on ITC Great Plains LLC and affirmed the A rating on the company's senior secured debt.

The outlook remains negative.

The revised assessment of ITC Great Plain's liquidity position to adequate from exceptional reflects a reduction in the size of the company's revolving credit facilities, which affects S&P’s overall liquidity assessment, S&P said in a news release.

“The negative outlook on ITC GP reflects our view that weak financial metrics over the next 12 to 24 months and the effects of U.S. tax reform will likely push back the expectation for financial improvement of the company's ultimate parent, Fortis Inc.,” S&P said.

“In addition, the outlook reflects the risk that any adverse outcomes from pending regulatory decisions could further depress credit metrics.”

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