DBRS Rates CU Inc. Debenture Issues at A (high)

DBRS has today assigned a rating of A (high), with a Stable trend, to CU Inc.’s $500 million 4.543% Debentures due October 24, 2041, and $200 million 4.593% Debentures due October 24, 2061 (collectively, the Debentures).

The offerings are being issued pursuant to CU Inc.’s $1.7 billion Base Shelf Prospectus dated May 28, 2010, and the Debentures are direct unsecured obligations ranking pari passu with all other unsubordinated and unsecured indebtedness of CU Inc.

Proceeds from the issues will be used to finance capital expenditures, to repay existing indebtedness and for other 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.