On May 1, 2014, Berkshire Hathaway Energy Co. (BHE) announced its proposed acquisition of SNC-Lavalin Inc.'s equity in AltaLink Investments L.P. (AILP) for an estimated C$3.2 billion. As a result, we are revising the outlook on AILP to positive from stable. We believe AILP will be of more strategic importance to BHE than its nonstrategic status to SNC and that this could affect the ratings after the close. We are also affirming our ratings, including the 'A-' long-term corporate credit rating, and stable outlook on AILP's insulated regulated utility operating subsidiary AltaLink L.P. (AltaLink). The outlooks on both entities reflect our expectation that the Alberta Utilities Commission is likely to approve the acquisition, and that before the close (expected in
