DBRS Rates TransAlta Corporation’s New Issue at BBB, Stable

DBRS has today assigned a rating of BBB with a Stable trend to TransAlta Corporation’s (TransAlta or the Company) issuance of $400 million of medium-term notes (the Notes), maturing November 25, 2020. The Notes settled on November 25, 2013.

The Notes were issued pursuant to a short-form base shelf prospectus dated November 15, 2011, as supplemented by a prospectus supplement dated November 18, 2013. The Notes will rank pari passu, except as to sinking fund or analogous provisions, with all other unsecured and unsubordinated indebtedness of the Company.

Net proceeds from the sale of the Notes will be used by TransAlta for the repayment of indebtedness, the financing of the Company’s long-term investment plan and growth projects or for other general corporate purposes.

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

The applicable methodology is Rating Companies in the Non-Regulated Electric Generation Industry (May 2011), which can be found on the DBRS website under Methodologies.