The ratings on Alberta-based AltaLink Investments L.P. (AILP) reflect what Standard&Poor's Ratings Services views as the partnership's excellent business risk profile. In our opinion, supporting this is the excellent business risk profile of its single investment in AltaLink L.P. (AltaLink; A-/Stable/--), an Alberta-based, regulated monopoly electricity transmission partnership; and the equity support of AILP's ultimate and creditworthy primary unitholder. We believe an aggressive financial risk profile, cash flow restrictions due to a ring-fenced limited partnership structure, and single-asset exposure offset these strengths. The ratings on AILP largely reflect its stand-alone credit quality but remain linked with the ratings on AltaLink. As such, a change in outlook or material deterioration in either entity's creditworthiness could have a direct impact
