DBRS Rates TransCanada PipeLines Limited’s New Issue at “A,” Stable Trend

DBRS has today assigned a rating of “A” with a Stable trend to TransCanada PipeLines Limited’s (TCPL) $1 billion 2.50% Unsecured Medium-Term Notes (the Notes) maturing on August 1, 2022.

The Notes, which are expected to settle on August 2, 2012, will rank equally, except as to sinking funds, with all of TCPL’s existing and future senior unsecured debt. Net proceeds from the offering will be used to repay indebtedness and for general corporate purposes.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating North American Pipeline and Diversified Energy Companies (May 2011), which can be found on the DBRS website under Methodologies.