Fitch affirms American Transmission

Fitch Ratings said it affirmed American Transmission Co.'s long-term issuer default rating of A, senior unsecured rating of A+, short-term issuer default rating of F1 and commercial paper rating of F1.

The outlook is stable.

Ratings reflect the company's low risk profile as an electric transmission utility and stable cash flow, the agency said.

Ratings also consider strong utility cash flow, declining capital expenditure, adequate liquidity and conservative capital structure, Fitch added.

Concerns are revenue concentration and considerable capital expenditure program over the next two years, the agency noted.

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