DBRS Rates Union Gas’s $250 Million MTNs at “A”

DBRS has today assigned a rating of “A” with a Stable trend to the $250 million 5.20% unsecured medium-term notes (MTNs) to be issued by Union Gas Limited (Union), due on July 23, 2040. The offering is expected to settle July 23, 2010.

The MTNs are being issued pursuant to Union’s $700 million Short Form Base Shelf Prospectus dated August 22, 2008, and are direct, unsecured and unsubordinated obligations of Union. The MTNs will rank pari passu with all other current and future unsecured and unsubordinated indebtedness.

The proceeds will be used to repay existing short-term indebtedness and for general corporate purposes.
Notes:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodology is Rating North American Energy Utilities (Electric, Natural Gas and Pipelines), which can be found on the DBRS website under Methodologies.

This is a Corporate (Utilities & Independent Power) rating.