Overview Key strengths Key risks Owns low-risk electricity transmission utility AltaLink L.P. (ALP). Geographic and regulatory diversity limited to Alberta. Limited commodity exposure. Limited growth prospects. Effective regulatory risk management. Incremental debt leverage weakens financial measures within the financial risk profile. (AILP) should effectively manage regulatory risk, supporting S&P Global Ratings' assessment of its excellent business risk profile. This expectation reflects the company's essential transmission operations under a generally credit-supportive framework in Alberta, Canada. . Under our base-case scenario, we expect adjusted funds from operations (FFO) to debt to average in the 10%-12% range. We assess AILP?s financial risk profile using our low volatility financial ratio benchmarks, which are the most relaxed compared to those we use for the typical
