S&P affirms TransCanada

Standard & Poor's said it affirmed the A- long-term corporate credit ratings on TransCanada Corp., key operating subsidiary TransCanada PipeLines Ltd. and its subsidiaries NOVA Gas Transmission Ltd. and ANR Pipeline Co.

The outlook is stable.

The affirmation follows a review of the company's various pipeline and energy interests, S&P said, and its projected financial risk profile during a period of intensive capital expenditures.

The ratings reflect its stable earnings stream from the company's natural gas pipeline and contracted power operations, the agency said, and the benefits of significant asset diversity.

TransCanada's leverage and the high level of capital expenditures in 2009 to 2011 largely related to the Keystone Pipeline development constrain the ratings, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.