The ratings on AltaLink L.P. (AltaLink) reflect its strong business profile and average financial position. AltaLink benefits from low-risk, efficient electricity transmission assets, an attractive transmission service franchise with favorable economic fundamentals, and the relatively supportive regulatory environment and framework for transmission companies in the Province of Alberta. These strengths are offset by a financial profile constrained by regulatory directives and pressured by capital funding requirements to meet network growth expected in the next three years. Alberta-based AltaLink is a pure transmission company wholly owned by AltaLink Investments L.P. (AILP). Legal and structural ring-fencing measures permit the ratings on AltaLink to be insulated somewhat from its parent. Nevertheless, although the ratings on AltaLink largely reflect the company's standalone credit quality,
