DBRS Rates FortisBC Issue of $100 Million 5.00% Medium-Term Notes, Series 2, at A (low)

DBRS has today assigned a rating of A (low), with a Stable trend, to the $100 million 5.00% Medium-Term Notes (MTNs), Series 2, due November 24, 2050, issued by FortisBC Inc. (FortisBC). The MTNs are expected to settle on November 24, 2010, and are being issued pursuant to FortisBC’s Short Form Base Shelf Prospectus dated May 22, 2009.

The MTNs will rank pari passu with all other FortisBC MTN debentures, with debentures issued under the Unsecured Trust Deeds and with all other present and future unsecured and unsubordinated indebtedness of FortisBC.

Proceeds from the sale of the MTNs will be used for general corporate purposes, including repayment of existing indebtedness and financing of FortisBC’s capital expenditure program and working capital requirements.

FortisBC is a wholly owned indirect subsidiary of Fortis Inc.

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.