DBRS Rates Enbridge Gas Distribution’s New Issue at “A”

DBRS has today assigned a rating of “A” with a Stable trend to Enbridge Gas Distribution Inc.’s (EGD) issuance of $200 million 4.04% and $200 million 4.50% Medium-Term Notes (Unsecured; MTNs) due November 23, 2020, and November 23, 2043, respectively. The MTNs settled on November 22, 2013.

The MTNs will be direct, unsecured obligations of EGD, ranking pari passu with all the other unsecured and unsubordinated indebtedness of EGD and are issued under the Term Sheets dated November 19, 2013, to EGD’s Short Form Base Shelf Prospectus dated January 21, 2013.

Net proceeds from the sale of the MTNs will be used for the repayment of short term 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.