Stable cash flow from a low-risk, regulated monopoly transmission business Single-asset risk with ring fencing provisions Large equity requirements The ratings on Alberta-based AltaLink Investments L.P. (AILP) reflect what Standard&Poor's Ratings Services views as the partnership's excellent business risk profile and aggressive financial risk profile. In our opinion, supporting the business risk profile is subsidiary AltaLink L.P. (AltaLink or ALP; A-/Stable/--), an Alberta-based, regulated monopoly electricity transmission partnership with stable cash flows. We believe an aggressive financial risk profile, cash flow restrictions from a ring-fenced limited partnership structure, and single-asset exposure offset these strengths. Legal and structural ring-fencing measures permit the ratings on AILP to be separated somewhat from those on subsidiary ALP, but the ratings remain linked.
