...- We concluded our review of Ontario's regulatory construct and maintained our assessment as a most credit supportive regulatory jurisdiction. - Our assessment reflects that the Ontario Energy Board (OEB) has proactively addressed regulatory lag, and we now believe that its utilities, including Entegrus Powerlines Inc. (EPI), will maintain consistent financial measures sufficient for the current ratings. - We therefore revised the outlook to stable from negative and affirmed our 'A' issuer credit rating on EPI. - The stable outlook on EPI reflects our expectation that its unrated parent, Entegrus Inc.'s (EI) consolidated financial measures will remain consistent, such that funds from operations (FFO) to debt is greater than 13%. The stable outlook also reflects our expectation that the regulated utility business will consistently contribute about 95% of EI's consolidated EBITDA. Under our base case, we expect EI's consolidated FFO to debt to be 15%-16% through 2026....
