DBRS Assigns R-1 (low) Rating to Cenovus Energy Inc.

DBRS has today assigned a rating of R-1 (low), with a Stable trend, to the Commercial Paper (CP) of Cenovus Energy Inc. The Canadian CP program will allow for issuance in both Canadian and U.S. dollars up to the equivalent of $1 billion, but will not be registered in the United States or for sale or delivery therein. The CP program will be supported by a $2 billion three-year committed credit facility.

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

The applicable methodology is Rating Oil and Gas Companies, which can be found on our website under Methodologies.

This is a Corporate rating.