The ratings on AltaLink L.P. reflect, in Standard&Poor's Ratings Services' opinion, the company's strong business risk and intermediate financial risk profiles. We believe AltaLink's credit profile benefits from the company's low-risk, regulated electricity transmission assets, an attractive service area with favorable economic fundamentals, and the relatively supportive regulatory environment and market framework for transmission companies in the Province of Alberta (AAA/Stable/A-1+). Offsetting these strengths in our view are capital funding requirements to meet significant network growth in the next three years. Alberta-based AltaLink is a regulated transmission company wholly owned by AltaLink Investments L.P. (AILP; BBB-/Stable/--). We believe legal and structural ring-fencing measures permit the ratings on AltaLink to be insulated somewhat from those on its parent. However,
