...TORONTO (S&P Global Ratings) Sept. 27, 2017--S&P Global Ratings said today it has reviewed its issue-level rating on AltaLink Investments L.P.'s (AILP) senior unsecured debt that it labeled as "under criteria observation" (UCO) after publishing its revised issue ratings criteria, "Reflecting Subordination Risk In Corporate Issue Ratings," on Sept. 21, 2017, on RatingsDirect. With our criteria review complete, we are removing the UCO designation from and lowering our issue-level rating on AILP's senior unsecured debt to 'A-' from 'A'. This rating action stems solely from the application of our revised issue rating criteria and does not reflect any change in our assessment of our 'A' corporate credit rating AILP. Our rating action reflects that, under the new criteria, AILP's consolidated secured debt ratio exceeds the 50% threshold, leading to our view that the company's unsecured debtholders are likely to be disadvantaged because the secured lenders have priority over unsecured lenders....
