DBRS Rates TransCanada PipeLines Limited’s New Issue at “A” with a Stable Trend

DBRS has today assigned a rating of “A” with a Stable trend to TransCanada PipeLines Limited’s (the Company) $1.0 billion of 3.80% senior unsecured notes (the Senior Notes), maturing October 1, 2020. The Senior Notes are expected to settle on September 23, 2010.

The Senior Notes will rank equally with the Company’s existing and future senior unsecured debt, and the net proceeds from the offering will be used to partially fund capital projects, reduce short-term indebtedness and for general corporate purposes.

Notes:
All figures are in U.S. dollars unless otherwise noted.

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