DBRS Rates Westcoast Energy Inc. New Issues at A (low)

DBRS has today assigned a rating of A (low) with a Stable trend to the following Westcoast Energy Inc. (Westcoast) new debt issuance:

(1) Proposed $150 million of 3.883% unsecured Medium Term Notes (Notes) maturing October 28, 2021.

(2) Proposed $150 million of 4.791% Notes maturing October 28, 2041.

The issues are expected to settle on October 28, 2011.

The Notes will rank equally with all of Westcoast’s other senior unsecured indebtedness. Net proceeds from the issue will be used for general corporate purposes, which may include repayment of outstanding indebtedness, and financing capital expenditures and investments of Westcoast.

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

The applicable methodology is Rating North American Pipeline and Diversified Energy Companies, which can be found on the DBRS website under Methodologies.