Research Update: AltaLink Investments L.P. And AltaLink L.P. Outlooks Revised To Negative Following Outlook Revision On Parent BHE

On June 20, 2023, S&P Global Ratings revised its outlook on AltaLink Investments L.P.'s (AILP) parent, Berkshire Hathaway Energy Co. (BHE), to negative from stable. Therefore, we revised our outlooks on AILP and its primary subsidiary, AltaLink L.P. (ALP), to negative from stable and affirmed our ratings, including our 'A' issuer credit rating (ICR) on AILP and ALP and our 'A' issue-level rating on ALP's senior secured debt. We also revised our stand-alone credit profile (SACP) on AILP to 'a-' from 'bbb+' to reflect its improved financial measures due to debt reduction. The negative outlooks reflect our negative outlook on BHE, which indicates the potential that BHE's business or financial risk could weaken over the next 24 months if it

...- On June 20, 2023, S&P Global Ratings revised its outlook on AltaLink Investments L.P.'s (AILP) parent, Berkshire Hathaway Energy Co. (BHE), to negative from stable. - Therefore, we revised our outlooks on AILP and its primary subsidiary, AltaLink L.P. (ALP), to negative from stable and affirmed our ratings, including our 'A' issuer credit rating (ICR) on AILP and ALP and our 'A' issue-level rating on ALP's senior secured debt. - We also revised our stand-alone credit profile (SACP) on AILP to 'a-' from '###+' to reflect its improved financial measures due to debt reduction. - The negative outlooks reflect our negative outlook on BHE, which indicates the potential that BHE's business or financial risk could weaken over the next 24 months if it faces significantly increased wildfire liabilities related to PacifiCorp....

Research Update