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DEBT Revolving Credit Agreements (Details)
12 Months Ended
Dec. 31, 2015
USD ($)
Line of Credit Facility  
Total available capacity $ 1,000,000,000
Outstanding balance 319,900,000 [1]
Unused capacity 680,100,000
ITC Holdings Corp.  
Line of Credit Facility  
Total available capacity 400,000,000
Outstanding balance 137,700,000 [1]
Unused capacity $ 262,300,000 [2]
Weighted average interest rate 1.60% [3]
Commitment fee rate 0.175% [4]
Unused capacity, adjusted for commercial paper outstanding $ 167,300,000
Interest rate description Loan bears interest at a rate equal to LIBOR plus an applicable margin of 1.25% or at a base rate, which is defined as the higher of the prime rate, 0.50% above the federal funds rate or 1.00% above the one month LIBOR, plus an applicable margin of 0.25%, subject to adjustments based on ITC Holdings’ credit rating.
ITCTransmission  
Line of Credit Facility  
Total available capacity $ 100,000,000
Outstanding balance 48,300,000 [1]
Unused capacity $ 51,700,000
Weighted average interest rate 1.40% [5]
Commitment fee rate 0.10% [4]
Interest rate description Loans bear interest at a rate equal to LIBOR plus an applicable margin of 1.00% or at a base rate, which is defined as the higher of the prime rate, 0.50% above the federal funds rate or 1.00% above the one month LIBOR, subject to adjustments based on the borrower’s credit rating.
METC  
Line of Credit Facility  
Total available capacity $ 100,000,000
Outstanding balance 2,500,000 [1]
Unused capacity $ 97,500,000
Weighted average interest rate 1.40% [5]
Commitment fee rate 0.10% [4]
ITC Midwest  
Line of Credit Facility  
Total available capacity $ 250,000,000
Outstanding balance 72,300,000 [1]
Unused capacity $ 177,700,000
Weighted average interest rate 1.40% [5]
Commitment fee rate 0.10% [4]
ITC Great Plains  
Line of Credit Facility  
Total available capacity $ 150,000,000
Outstanding balance 59,100,000 [1]
Unused capacity $ 90,900,000
Weighted average interest rate 1.40% [5]
Commitment fee rate 0.10% [4]
[1] Included within long-term debt.
[2] ITC Holdings’ revolving credit agreement may be used for general corporate purposes, including to repay commercial paper issued pursuant to the commercial paper program described above, if necessary. While outstanding commercial paper does not reduce available capacity under ITC Holdings’ revolving credit agreement, the unused capacity under this agreement adjusted for the commercial paper outstanding was $167.3 million as of December 31, 2015.
[3] Loan bears interest at a rate equal to LIBOR plus an applicable margin of 1.25% or at a base rate, which is defined as the higher of the prime rate, 0.50% above the federal funds rate or 1.00% above the one month LIBOR, plus an applicable margin of 0.25%, subject to adjustments based on ITC Holdings’ credit rating.
[4] Calculation based on the average daily unused commitments, subject to adjustment based on the borrower’s credit rating.
[5] Loans bear interest at a rate equal to LIBOR plus an applicable margin of 1.00% or at a base rate, which is defined as the higher of the prime rate, 0.50% above the federal funds rate or 1.00% above the one month LIBOR, subject to adjustments based on the borrower’s credit rating.