trending Market Intelligence /marketintelligence/en/news-insights/trending/egpkw3pjb-dqi8gkkcn6cw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

S&P revises outlook on Fortis, subsidiaries on tax reform impact

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August


S&P revises outlook on Fortis, subsidiaries on tax reform impact

Lower utility rates and cash flow at U.S. subsidiaries will modestly weaken Fortis Inc.'s financial measures, S&P Global Ratings said in a March 21 research report.

This view prompted the rating agency to revise its outlook on Fortis and some of its subsidiaries, including ITC Holdings Corp., Tucson Electric Power Co., FortisAlberta Inc. and Caribbean Utilities Co. Ltd., to negative from stable. The rating agency affirmed its A- corporate credit ratings on the companies.

"The ITC acquisition in late 2016 removed much of the cushion in Fortis' credit metrics and leaves little room for operational or event risk; including U.S. tax reform," S&P Global Ratings said. "During the next 12-24 months, we forecast the company's credit metrics to be weak, with funds from operations (FFO)-to-debt at about 9.5% in 2018, before improving to about 10.5% by 2019-2020."

S&P Global Ratings is not changing its outlook on the ratings of Fortis subsidiary Central Hudson Gas & Electric Corp.

"The cumulative value of the regulatory protections in place provide a degree of insulation that in our view could allow for CHG&E to be rated up to two notches higher than Fortis," the rating agency said in a separate March 21 note.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here and here.