DBRS Rates AltaLink Investments, L.P. Senior Bonds Issue at BBB, Stable

DBRS Limited (DBRS) has today assigned a rating of BBB with a Stable trend to AltaLink Investments, L.P.’s (AILP) issuance of $200 million Series 15-1 Senior Bonds (the Bonds), maturing March 7, 2022. The Bonds settled on March 6, 2015.

The Bonds were issued via private placement pursuant to AILP’s Trust Indenture dated as of November 21, 2005, and the Series 15-1 Supplemental Indenture dated as of March 6, 2015. The Bonds will rank pari passu with all present and future senior unsecured indebtedness of AILP and will have priority over all subordinated indebtedness. The proceeds will be used to repay all indebtedness outstanding under the revolving credit facility, to make additional limited partner capital contributions to AltaLink, L.P. and for working capital purposes.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodologies are Rating Companies in the Regulated Electric, Natural Gas and Water Utilities Industry (October 2014) and Rating Holding Companies and Their Subsidiaries (January 2015), which can be found on the DBRS website under Methodologies.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.