DBRS Rates Enbridge Energy Partners, L.P.’s New Issue at BBB, Stable

DBRS has today assigned a rating of BBB, with a Stable trend, to the proposed US$400 million of 5.5% senior unsecured notes (the Notes) issue of Enbridge Energy Partners, L.P. (EEP) maturing September 15, 2040.

The Notes will rank equally with all of EEP’s other senior unsecured indebtedness. Net proceeds from the issue will be used to fund a portion of the purchase price for EEP’s pending acquisition of the entities that comprise the Elk City Gathering and Processing System, including the repayment of any short-term indebtedness incurred for such purpose.

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