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ATCO Ltd. Nov 11
Standard & Poors, Nov 2011
Abstract
Predictable earnings of primary subsidiary, Canadian Utilities Ltd. (CU) No long-term debt at the holding company level Holdings concentrated on CU The ratings on ATCO Ltd. reflect Standard & Poor's Rating Services' opinion of the company's excellent business risk profile and its significant financial risk profile. ATCO's stable cash flows from its regulated operations and its relatively conservative approach to financing at the holding company level support its business risk profile. We believe limited sources of funds and consolidated credit metrics that we forecast to be weak for the ratings offset these strengths. ATCO has a 53% economic interest and a controlling position in publicly traded holding company Canadian Utilities Ltd. (CU; A/Stable/A-1). CU's primary holding, CU Inc. (A/Stable/A-1), is...
Companies mentioned in this report are: ATCO Ltd.,Canadian Utilities Ltd.,CU Inc.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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