S&P: AltaGas view positive

Standard & Poor's said it revised the outlook on AltaGas Income Trust to positive from stable and affirmed the BBB- long-term corporate credit and senior unsecured debt ratings.

The outlook revision reflects the efficient integration of Taylor NGL LP, which AltaGas acquired in early 2008 for C$490 million, and earnings and funds from operations, S&P said.

The power segment has inhibited ratings on AltaGas because its profitability is highly correlated to volatile power prices, the agency noted.

AltaGas continues to exhibit strong risk management, however, and generally hedges about two-thirds of volume.

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