Fitch puts GridLiance on positive watch

Fitch Ratings said it placed the ratings of GridLiance Western Holdings, LLC and its operating transmission subsidiary GridLiance West LLC on rating watch positive following an announcement by NextEra Energy Transmission, LLC, a subsidiary of NextEra Energy, Inc. that it agreed to acquire GridLiance from affiliates of Blackstone Energy Partners for about $660 million, which includes the assumption of debt. Finally,

“Fitch views the acquisition of GridLiance by NextEra Energy Transmission as a credit positive due to the beneficial ownership of a stronger financial parent holding company in NextEra Energy, the leading developer of renewable energy and transmission projects in the U.S.,” the agency said in a press release.

Fitch also affirmed the issuer default rating of GridLiance High Plains LLC (GridLiance High Plains) at A with a stable outlook.

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