Low-risk electricity transmission assets No volume or commodity price risk Very stable cash flow Capital spending that continues to taper off during our outlook period; improves credit metrics Stable financial measures that are consistent with a significant financial risk profile The stable outlook on AltaLink L.P. (ALP) reflects Standard&Poor's Ratings Services' view that the company will continue to generate stable regulated cash flows. We could lower the ratings on ALP if adjusted funds from operations (AFFO)-to-debt drops and stays below 10%. In addition, any adverse regulatory development or change to the structural provisions that currently allow the one-notch separation between ALP and AltaLink Investment L.P. (AILP) could lower the ratings. We might take a positive rating action if
