DBRS Rates Veresen Inc.’s New Issues at BBB (high), Stable Trend

DBRS has today assigned a rating of BBB (high) with a Stable trend to the following Veresen Inc. (Veresen) new debt issuance:

-- $150 million 4.00% unsecured medium-term notes maturing on November 22, 2018.

The issues are expected to settle on or about November 22, 2011.

The new debt will rank equally with all of Veresen’s existing and future senior unsecured debt. Net proceeds from the offering will be used to repay indebtedness, to finance future growth opportunities (including acquisitions and investments) and/or for general corporate purposes.

Notes:
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.