Fitch Ratings Affirms GridLiance Subsidiaries' Credit Rating
DALLAS, July 29, 2020 /PRNewswire/ -- GridLiance, an electric transmission utility holding company, announced that Fitch Ratings, Inc. recently affirmed investment-grade issuer ratings for three of its subsidiaries. Fitch affirmed its long-term issuer default ratings (IDR) for: GridLiance West ("A-" rating), GridLiance Western Holdings ("BBB" rating) and GridLiance High Plains ("A" rating). The ratings outlook for the three subsidiaries is stable.
According to Fitch, GridLiance's subsidiaries' ratings and stable outlooks primarily reflect their low-business risk profile, predictable cash flows and strong organic growth opportunities.
"These investment-grade ratings reflect GridLiance's strong business fundamentals and built-in resiliency in the face of current economic headwinds," said Calvin Crowder, president and CEO of GridLiance. "We remain focused on continuing our strong financial and operational performance and leveraging the growth opportunities that lay ahead of us."
GridLiance is an independent electric transmission utility holding company. GridLiance collaborates with rural electric cooperatives, municipal utilities, joint action agencies and others to plan for the future of the grid, invest in necessary electric infrastructure and implement strategies to improve system reliability and resiliency and reduce overall costs to customers. Based in Dallas, GridLiance operates over 700 miles of transmission lines and related substation facilities in Illinois, Kentucky, Missouri, Nevada and Oklahoma. GridLiance is a portfolio company of Blackstone Energy Partners, an affiliate of Blackstone (NYSE: BX), a leading energy infrastructure investor. For more information about GridLiance, visit gridliance.com.
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