DBRS Finalizes Algonquin Power Co. Upsized Senior Unsecured Debenture Offering at BBB (low), Stable

DBRS has today finalized its rating of BBB (low), with a Stable trend, assigned to Algonquin Power Co.’s (APCo) issue of $135 million of Senior Unsecured Debentures. DBRS had assigned a provisional rating of BBB (low) with a Stable trend on July 18, 2011.

The APCo offering, upsized to $135 million from the previously announced $100 million, consists of 5.50% senior unsecured debentures due July 25, 2018.

Proceeds from the offering, which is expected to close today, will be used to repay existing debt and for general corporate purposes.

Please refer to the press release and rating report dated July 18, 2011, for additional details.

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

The applicable methodology is Rating Companies in the Non-Regulated Electric Generation Industry, which can be found on our website under Methodologies.