...Outlook: Stable The stable outlook on AltaLink Investments L.P. reflects our outlook on parent BHE. In addition, the outlook reflects that, during our two-year outlook period, we do not expect changes to the relationship between AILP and the BHE group. We expect AILP will continue to be a core part of the BHE group given the asset's nature and that BHE is typically a long-term investor. Furthermore, we expect AILP will continue generating stable and predictable cash flows through its only operating subsidiary, AltaLink L.P. (ALP). We expect BHE management will continue to focus on its core utility operations and reach constructive regulatory outcomes supporting the business risk profile. Although BHE has used significant leverage for acquisitions and capital investments, we expect credit measures to strengthen modestly, supporting the rating. Under our base-case forecast, we expect BHE's adjusted funds from operations (AFFO) to debt to average about 14%-15% over the next few years....
