20180126Avista to Staff_DR_118(H1).DOCX

HYDRO ONE LIMITED
RESPONSE TO REQUEST FOR INFORMATION
JURISDICTION:OREGONDATE PREPARED:10/02/2017
CASE NO.:UM 1897WITNESS:Chris Lopez
REQUESTER:PUC StaffRESPONDER:Adele PantusaTYPE:Data RequestDEPT:Law
REQUEST NO.:Staff – 118(H1)TELEPHONE:[phone]EMAIL:[e-mail]:Please provide the current ratings including secured long-term debt ratings for Hydro One and discuss the current rating methodology used by Standard & Poor’s, and by Moody’s, in comparison to DBRS of Toronto to rate Hydro One. Please include a detailed definition, calculations and values of each financial metric as used by each agency.RESPONSE:
Hydro One Limited (“HOL”) is rated by Standard & Poor’s only. It does not have any debt outstanding and its Standard & Poor’s rating shown in the table below is a corporate credit rating.
Hydro One Limited Credit Rating 
Rating Agency
Corporate Credit Rating
Standard & Poor's Ratings Services
A
The following table shows the securities ratings for Hydro One Inc. (“HOI”), a wholly owned subsidiary of HOL. HOI is rated by DBRS Limited, Moody's Investors Service and Standard & Poor's Ratings Services.
Hydro One Inc. Credit Ratings
Rating Agency​
Long-term Debt Rating​
Short-term Debt Rating​
DBRS Limited
A (high)
R-1 (low)
Moody's Investors Service
A3
Prime-2
Standard & Poor's Ratings Services
A
A-1
The ratings, financial metrics, and respective methodologies are discussed in the reports published by the credit rating agencies, which have been attached for your reference.