DBRS Rates Hydro-Québec’s Issue of $500 Million 5.00% Series JN Debentures at A (high)

DBRS has today assigned a rating of A (high) with a Stable trend to Hydro-Québec’s $500 million Series JN Debentures (the Debentures), which are expected to settle on August 26, 2010. The Debentures will mature on February 15, 2050, and have a coupon of 5.00% payable semi-annually. This is the fifth additional tranche of Series JN Debentures (five tranches totaling $2.5 billion were previously issued in January, November, December 2009 and March 2010).

The Debentures will rank equally with all other debt securities of Hydro-Québec. Proceeds from this issue will be used for capital expenditures, repayment of outstanding debt or 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.