Ontario, Canada-based electricity distribution utility Entegrus Powerlines Inc. (EPI) is a core entity to parent company Entegrus Inc. because it is fully integrated with Entegrus's strategy and overall operations, and unlikely to be sold. EPI's business risk profile is excellent based on the company being a regulated utility with a supportive regulatory framework and cost recovery mechanisms including for purchased power. EPI's financial risk profile is intermediate and is based on an expectation of adjusted funds from operations (FFO) to debt of about 16%. We assigned our 'A' issuer credit rating to EPI. The stable outlook on EPI reflects that on parent Entegrus, which incorporates our expectation that the company will continue to focus on its core regulated business with
