S&P ends GrandLinq observation

S&P said it affirmed the A- rating on GrandLinq GP’s C$103 million of senior secured bonds due 2047 and removed it from under criteria observation.

On Dec. 14, the agency published its revised criteria for project finance.

“We have completed our review of the issue rating on GrandLinq GP, which we had placed on UCO. In accordance with our new methodology, our view of GrandLinq's resiliency assessment (based on our projected credit metrics under our downside case) has improved; however, the project's limited operating history limits the ratings upside at this time,” the agency said in a statement.

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