DBRS Rates Hydro One’s New Issue at A (high)

DBRS has today assigned a rating of A (high) with a Stable trend to Hydro One Inc.’s (Hydro One) proposed issuance of $250 million 2.95% medium-term notes (Notes), maturing September 11, 2015. The Notes are expected to settle on January 19, 2011. This is a re-opening of Hydro One’s 2.95% medium-term notes offering that closed September 13, 2010.

The Notes will rank pari passu with all of Hydro One’s other unsubordinated and unsecured indebtedness and will be issued pursuant to its Short-Form Base Shelf Prospectus dated July 27, 2009, as amended March 2, 2010.

Proceeds from the issue will be used for repayment of maturing indebtedness 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 the DBRS website under Methodologies.