On Nov. 25, 2003, Standard & Poor's Ratings Services assigned its 'A-' senior secured debt rating on electricity transmission company AltaLink L.P.'s proposed C$125 million bond issue. At the same time, Standard & Poor's affirmed its 'A-' long-term corporate credit rating on AltaLink. The outlook is stable. AltaLink is wholly owned by AltaLink Investments L.P. (AltaLink Investments), which is in turn ultimately owned by four unitholders: SNC-Lavalin Group Inc. (BBB/Stable/--) with a 50% ownership interest; Ontario Teachers Pension Plan Board, of which the Province of Ontario (AA/Stable/A-1+) is a cosponsor, with 25% ownership interest; Macquarie North America Ltd., a wholly owned subsidiary of Macquarie Bank Ltd. (A/Stable/A-1), with a 15% ownership interest; and Trans-Elect Inc. with the remaining 10% ownership
