On Nov. 7, 2005, Standard & Poor's Ratings Services assigned its 'BBB-' long-term corporate credit rating to AltaLink Investments L.P. (AILP), an Alberta-based holding company. The ratings on AILP reflect its single investment in AltaLink L.P. (AltaLink; A-/Stable/--), an Alberta-based, regulated monopoly electricity transmission company, and the support of AILP's ultimate and creditworthy unitholders. These strengths are offset by a weak financial profile, cash flow restrictions due to a ring-fenced limited partnership structure, and single-asset exposure. Although the ratings on AILP largely reflect its stand-alone credit quality, they remain linked with the ratings on AltaLink. As such, a material deterioration in AILP's or AltaLink's creditworthiness will have a direct impact on the ratings on both companies. AILP is the sole
