DBRS Rates Nova Scotia Power’s Issue of $50 Million, 5.75% Series T Medium-Term Notes at A (low)

DBRS has today assigned a rating of A (low) with a Stable trend to the $50 million, 5.75% Series T Medium-Term Notes, maturing October 1, 2013 (the Notes), issued by Nova Scotia Power Inc. (NSPI). This issue is the second reopening of NSPI’s existing Series T, $100 million, 5.75% 2013 Medium-Term Notes issued in 2003 following the Series T reopening for $150 million, issued in December 2008.

The Notes rank equally with all other debt securities of NSPI and are being issued pursuant to the Base Shelf Prospectus dated January 24, 2008. Proceeds from this issue will be used to pay down short-term debt.

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

The applicable methodology is Rating Utilities (Electric, Pipelines & Gas Distribution), which can be found on our website under Methodologies.

This is a Corporate rating.