DBRS Confirms Electricity Distributors Finance Corporation at A (low)

DBRS has today confirmed the rating on the Series 2002-1 Certificates (Certificates) issued by Electricity Distributors Finance Corporation (EDFIN) at A (low) with a Stable trend. DBRS has also confirmed the Issuer Ratings of the three participating local distribution companies (LDC Participants), namely Enwin Utilities Ltd. at A (low), PowerStream Inc. at “A” and Barrie Hydro Distribution Inc. at “A,” all with Stable trends.

The Certificates represent undivided co-ownership interests in unsecured debentures issued by the three LDC Participants. The obligations of the individual LDC Participants is several, and not joint, and each LDC Participant is liable for its own obligations and not for the obligations of others. Default of the obligations to EDFIN of one LDC Participant will result in a proportionate default of the unsecured debentures issued by EDFIN. Therefore, the rating of the Certificates is based on the rating of the lowest-rated LDC Participant, Enwin Utilities Ltd.