Algonquin Power & Utilities Corp.: Rating Report
On January 22, 2020, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Preferred Shares rating of Algonquin Power & Utilities Corp. (APUC or the Company) at BBB and Pdf-3, respectively. Both trends are Stable. The rating confirmations reflect stable and strong cash flow from its two principal subsidiaries: (1) Liberty Utilities Co. (LUCO), the guarantor of the debt issued by Liberty Utilities Finance GP1 (LUF;rated BBB (high) with a Stable trend by DBRS Morningstar); and (2) Algonquin Power Co. (operating as Liberty Power Co. (APCO); rated BBB with a Stable trend by DBRS Morningstar).
Algonquin Power & Utilities is a generation, transmission and distribution utility company. Co.'s distribution business operates in the U.S. under the name of Liberty Utilities Co. and provides rate regulated water, electricity and natural gas utility services. Co.'s generation business operates under the name Algonquin Power Co. and owns or has interests in non-regulated North American based contracted wind, solar, hydroelectric and natural gas powered generating facilities. Co.'s transmission business operates under the name Liberty Utilities (Pipeline & Transmission) and invests in rate regulated electric transmission and natural gas pipeline systems in the U.S. and Canada.
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