DBRS affirms AltaLink

DBRS said it confirmed AltaLink Investments, LP at BBB and AltaLink, LP's senior secured bonds and medium-term notes at A and commercial paper at R-1ow.

The trends are stable.

AltaLink's ratings reflect the partnership's low level of business risk from its regulated electric transmission business and currently strong financial profile, underpinned by its stable capital structure and reasonable credit metrics, DBRS said.

The ratings incorporate AltaLink's potentially significant capital expenditures and the associated increased business risk as well as the continued support from both the Alberta Utilities Commission and AltaLink's indirect owners SNC-Lavalin Group Inc. and Macquarie Transmission Alberta Ltd., the agency added.

AltaLink Investments' ratings reflect the strength of its 100% economic interest in AltaLink, its stable cash flow from AltaLink to meet financial obligations and the continued strong commitment from SNC-Lavalin and Macquarie Transmission, the agency said.

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