DBRS Assigns A (low) Rating with a Stable Trend to Cameco Senior Debt Issue

DBRS has today assigned the rating of A (low), with a Stable trend, to the $500 million 5.67% senior unsecured debentures, Series D (the Debentures) to be issued by Cameco Corporation (Cameco). The new issue has been sold on a bought-deal basis to a syndicate of underwriters for sale to the public in Canada. The Debentures will mature in September 2019 and rank pari passu with all other senior unsecured debt of Cameco. Net proceeds from the offering are expected to be used to refinance existing indebtedness and for general corporate purposes.

DBRS confirmed Cameco’s rating at A (low) with a Stable trend on June 18, 2009 (see the related DBRS press release for further details).

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

The applicable methodology is Rating Mining, which can be found on our website under Methodologies.

This is a Corporate rating.