DBRS Rates Hydro-Québec’s Issue of $500 Million 5.00% Series JN Debentures at A (high)

DBRS has today assigned a rating of A (high) with a Stable trend to Hydro-Québec’s $500 million Series JN Debentures (the Debentures), which are expected to settle on September 30, 2011. The Debentures will mature on February 15, 2050, and have a coupon of 5.00% payable semi-annually. This is an additional tranche of the Series JN Debentures (tranches totalling $4 billion were previously issued in 2009, 2010 and 2011).

The Debentures will rank equally with all other debt securities of Hydro-Québec. Proceeds from this issue will be used for capital expenditures, repayment of outstanding debt or for general corporate purposes.

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

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