S&P revises AltaLink to negative

S&P said it revised the outlook on AltaLink LP (ALP) and its parent, AltaLink Investments LP. (AILP), to stable from negative and affirmed the ratings, including both A long-term corporate credit ratings.

The agency revised the outlook on Berkshire Hathaway Energy Co. (BHE), AILP's parent, to stable from negative following its announcement that it terminated its plan to acquire the reorganized Energy Future Holdings Corp. (EFH), including Oncor Electric Delivery Co. LLC.

“If completed, we believe, the acquisition would have weakened financial measures, including our core ratio of adjusted funds from operations (FFO)-to-debt that was expected to remain at the very low end of our financial profile benchmark range at slightly above 13%,” S&P said in a news release.

“With the termination of the acquisition, we expect BHE's financial measures to remain in line with the current financial risk profile, particularly adjusted FFO-to-debt to average 15% over next two years.”

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