TORONTO (Standard & Poor's) Aug. 11, 2004--Standard & Poor's Ratings Services today said it revised its outlook to negative from stable on Alberta-based AltaLink L.P. (AltaLink). At the same time Standard & Poor's affirmed its 'A-' long-term corporate credit rating on AltaLink. The ratings action reflects the uncertainty surrounding the execution and timing of an expected financial restructuring at AltaLink's parent, AltaLink Investments L.P. (AltaLink Investments), which would strengthen the holding company's consolidated balance sheet and financial profile. "Although the ratings on AltaLink mostly reflect the operating company's stand-alone credit quality, the ratings remain linked to the creditworthiness of its owner AltaLink Investments," said Standard & Poor's credit analyst Nicole Martin. The effect of the proposed restructuring to replace debt
