Supportive regulation Low-risk, efficient transmission assets Ring-fenced limited partnership structure Average financial profile Cash flows insufficient to fund large capital infrastructure growth The ratings on AltaLink reflect the company's strong business profile and average financial position. AltaLink benefits from low-risk, efficient electricity transmission assets; an attractive transmission service franchise with favorable economic fundamentals; and the relatively supportive regulatory environment and framework for transmission companies in the Province of Alberta. These strengths are offset by a financial profile constrained by regulatory directives and pressured by capital funding requirements to meet network growth expected in the next four to five years. Alberta-based AltaLink is a pure transmission company wholly owned by AltaLink Investments, L.P. (AltaLink Investments). Legal and structural ring-fencing measures permit
