DBRS Rates Nova Scotia Power MTN Offering at A (low) with a Stable Trend

DBRS has today assigned a rating of A (low) with a Stable trend to Nova Scotia Power Inc.’s (NSPI or the Company) prospective offering of $250 million 4.15% unsecured medium-term notes, due March 6, 2042 (the Notes). This offering is expected to settle on March 6, 2012.

The Notes are being issued pursuant to NSPI’s $800 million Prospectus Supplement dated June 9, 2010, as amended to the Short Form Base Shelf Prospectus dated May 21, 2010, as amended and restated on July 15, 2010, and amended on May 13, 2011, and will be unsecured obligations of the Company and will rank equally and pari passu with all other unsecured and unsubordinated debt of NSPI.

Proceeds will be used to repay existing indebtedness and for 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.