DBRS Rates Union Gas’s $300 Million MTNs at “A”

DBRS has today assigned a rating of “A” with a Stable trend to the $300 million 4.88% unsecured medium-term notes (MTNs) to be issued by Union Gas Limited (Union), due on July 21, 2041. The offering is expected to settle on June 21, 2011.

The MTNs are being issued pursuant to Union’s $500 million Short Form Base Shelf Prospectus dated September 10, 2010, and are direct, unsecured and unsubordinated obligations of Union. The MTNs will rank pari passu with all other current and future unsecured and unsubordinated indebtedness.

The proceeds will be used to refinance prior maturities and for general corporate purposes.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodology is Rating Companies in the North American Energy Utilities (Electric and Natural Gas) Industry, which can be found on the DBRS website under Methodologies.