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S&P lowers AltaLink view to negative
Standard & Poor's said it revised the outlook on AltaLink Investments LP and subsidiary AltaLink LP to negative from stable.
The agency said it affirmed AltaLink Investment's A- rating and AltaLink's BBB- long-term corporate credit ratings.
The outlook revision follows the downgrade of parent SNC-Lavalin Group Inc., said Gavin MacFarlane, an S&P analyst.
The parent company continues to have the willingness and capacity to support AltaLink's capital program, the agency said. AltaLink continues to rely on equity injections from SNC-Lavalin estimated at about C$200 million in the next 12 months, S&P said.
The ratings reflect the company's excellent business risk profile and significant financial risk profile, the agency said.
Supportive regulation, predictable cash flows, a monopoly in electricity transmission assets and a favorable market framework for transmission companies in the Province of Alberta support the ratings, S&P said.
The ratings also consider the partnership's excellent business risk profile and aggressive financial risk profile, the agency said.
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