DBRS Assigns Provisional Rating of Pfd-3 (low) Negative to Preferred Shares to be Issued by Innergex Renewable Energy Inc.

DBRS has today assigned a provisional rating of Pfd-3 (low) with a Negative trend to up to $57.5 million cumulative redeemable fixed-rate preferred shares to be issued by Innergex Renewable Energy Inc. (Innergex or the Company). Innergex’s Issuer Rating remains BBB (low) with a Negative trend. The net proceeds from the offering will be used for repayment of a portion of the outstanding balance of the Company’s revolving term credit facility and for general corporate purposes.

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

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com.

This is an unsolicited credit rating. This credit rating was not initiated at the request of the issuer and did not include participation by the issuer or any related third party. It is based on public information.

The applicable methodologies are Rating Companies in the Non-Regulated Electric Generation Industry (May 2011), DBRS Criteria: Rating Parent/Holding Companies and Their Subsidiaries (September 2012) and DBRS Criteria: Preferred Share and Hybrid Criteria for Corporate Issuers (November 2012), which can be found on our website under Methodologies.