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 4.6% medium-term notes, due on December 1, 2015. This offering is expected to settle on April 18, 2011.

The Notes will be direct unsecured obligations of the Partnership, will rank equally and pari passu with all the other unsecured and unsubordinated indebtedness of the Partnership and will be issued under the $1.0 billion base shelf prospectus dated as of April 14, 2010, as amended and supplemented.

Proceeds will be used to repay amounts owing under credit facilities, short term investment, financing of ongoing capital projects and for working capital requirements.

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.