DBRS Assigns CP Rating/Discontinues Short-Term Issuer Rating of Toronto Hydro Corporation

DBRS has today assigned a Commercial Paper (CP) rating of R-1 (low) with a Stable trend to Toronto Hydro Corporation (THC; rated A (high)), and set a CP limit of $400 million. The rating is based on THC’s adequate liquidity available to manage the refinancing risk associated with the CP program. THC has a $600 million committed back-up credit facility in place with sufficient same-day liquidity. The CP rating replaces the Short-Term Issuer Rating of R-1 (low), which has been discontinued.

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.

The applicable methodology is Rating Companies in the North American Energy Utilities (Electric, Natural Gas and Pipelines), which can be found on the DBRS website under Methodologies.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.