Credit Ratings

Credit ratings are intended to provide investors with an independent measure of credit quality of an issue of securities. Credit ratings are not recommendations to purchase,  hold or sell securities and do not address the market quality or suitability of a specific security for a particular investor. These are assigned by credit rating agencies such as Moody's or Standard & Poor's.

The table below provides a list of the credit ratings assigned to TC PipeLines, LP and the entities in which it has an ownership interest:

 

 

TC PipeLines, LP      
  Standard & Poor's Moody's Fitch
Issuer/Senior Notes Rating BBB Baa2 n/a
Trend/Rating Outlook Stable Stable n/a     

 

 

Gas Transmission Northwest LLC    
  Standard & Poor's Moody's Fitch
Senior Unsecured n/a A3 n/a
Trend/Rating Outlook          n/a Stable n/a     

 

 

Great Lakes Gas Transmission System    
  Standard & Poor's Moody's Fitch
Issuer Rating   BBB- n/a n/a     
Trend/Rating Outlook          Stable n/a n/a

 

 

Iroquois Gas Transmission System    
  Standard & Poor's Moody's Fitch
Senior Unsecured  BBB+ A3 n/a     
Trend/Rating Outlook          Stable Stable n/a   

 

 

North Baja Pipeline LLC    
  Standard & Poor's Moody's Fitch
Issuer Rating   n/a n/a BBB+
Trend/Rating Outlook          n/a n/a Stable
Senior Unsecured     n/a n/a BBB+
Trend/Rating Outlook          n/a n/a Stable

 

 

Northern Border Pipeline Company    
  Standard & Poor's Moody's Fitch
Senior Unsecured BBB+ n/a n/a
Trend/Rating Outlook          Stable n/a n/a     

 

 

Portland Natural Gas Transmission System    
  Standard & Poor's Moody's Fitch
Issuer Rating   n/a n/a BBB
Trend/Rating Outlook          n/a n/a Stable
Senior Unsecured n/a n/a BBB
Trend/Rating Outlook          n/a n/a Stable

 

 

Tuscarora Gas Transmission Company    
  Standard & Poor's Moody's Fitch
Issuer Rating   BBB n/a n/a
Trend/Rating Outlook          Stable n/a n/a