DBRS Comments on the Decrease in the Authorized Limit of AltaLink, L.P.’s CP Program

DBRS Limited (DBRS) notes the reduction in the authorized limit of AltaLink, L.P.’s (AltaLink) commercial paper (CP) program and the consequent reduction in the size of the supporting line of credit facility, both from $750 million to $500 million, which came into effect on December 14, 2018. DBRS notes that the outstanding CP balance of $366 million as of September 30, 2018, remains below the reduced authorized limit, and that AltaLink forecasts that the outstanding CP amount will continue to decline.

DBRS reviewed the credit facility agreement amendments and is satisfied that the liquidity backup requirements continue to be met. DBRS is of the opinion that this development has no impact on AltaLink’s current CP rating of R-1 (low) with a Stable trend.

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

The principal methodologies are Rating Companies in the Regulated Electric, Natural Gas and Water Utilities Industry (September 2018) and DBRS Criteria: Commercial Paper Liquidity Support for Non-Bank Issuers (April 5, 2018), which can be found on dbrs.com under Methodologies & Criteria.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.