DBRS Rates Thomson Reuters Corporation’s $750 Million Debt Issue at A (low), Stable Trend

DBRS has today assigned a rating of A (low) to Thomson Reuters Corporation’s (Thomson Reuters or the Company) $750 million ten-year notes issue (the Notes). The trend is Stable.

The Notes will be issued by way of a supplement to the Company’s short-form base shelf prospectus dated December 23, 2008, and under its indenture dated November 20, 2001. The 4.35% issue, maturing on September 30, 2020, will be issued at 99.615 for an initial yield of 4.398%. Closing is expected to be on or around September 30, 2010.

The Notes will be direct, unsecured obligations of Thomson Reuters and will not be guaranteed. The Notes will rank equally and ratably with all of the Company’s other unsecured and unsubordinated obligations.

DBRS expects Thomson Reuters to use the proceeds from this issuance for debt refinancing, including its EUR 500 million 4.625% notes when they mature in November 2010.

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

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