DBRS Rates Capital Power L.P. MTN Offering at BBB, Stable Trend

DBRS has today assigned a rating of BBB with a Stable trend to the prospective $300 million offering of Capital Power L.P. (Capital Power or the Partnership) of 5.276% medium-term notes, due November 16, 2020. This offering is expected to settle on November 16, 2010.

The Notes will be direct unsecured senior obligations of the Partnership and will rank equally and pari passu with all the other unsecured and unsubordinated indebtedness of the Partnership, and will be issued under a trust indenture dated as of April 14, 2010, as amended and supplemented.

Proceeds will be used to finance a portion of the purchase price for the Island Generation Facility, repay amounts owing under its credit facilities 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 our website under Methodologies.