S&P lifts International Transmission

Standard & Poor's said it raised its issue-level rating on International Transmission Co.'s $285 million secured debt to A- from BBB+.

At the same time, S&P said it revised its recovery rating on this debt to 1+ from 1.

The issue-level rating and recovery rating indicate expectations for a full recovery of principal in a payment default scenario, the agency added.

In addition, S&P said it assigned an A- issue-level rating and 1+ recovery rating to International Transmission's $100 million first mortgage bonds, series D, due 2018.

The outlook is positive.

The agency added that the ratings on International Transmission reflect ITC Holdings' consolidated credit profile and the ratings also reflect the company's excellent business profile and aggressive financial profile.

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