Fitch rates TransCanada notes A-

Fitch Ratings said it assigned an A- rating to TransCanada PipeLines Ltd.'s proposed issuance of Canadian dollar-denominated senior unsecured notes.

The proceeds will be used for general corporate purposes.

TransCanada Corp. is the ultimate parent of the TransCanada family of companies.

The outlook is stable.

The ratings reflect the group's large scale and cash flow predictability, Fitch said.

The predictable quality of TransCanada's cash flow stems from the company's strong portfolio of assets, which generate about 95% of cash flows from either regulatory rate orders or long-term contracts, the agency said.

The company exhibits diversity across a few parts of its profile and earns revenues largely on regulatory-based and long-term contracted businesses, Fitch said.

The ratings are further supported by TransCanada's development, construction and operational execution abilities, the agency said.

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