DBRS Assigns Rating of Pfd-3 to AltaGas Ltd.’s Preferred Share Issue

DBRS has today assigned a rating of Pfd-3 with a Stable trend to AltaGas Ltd.’s (AltaGas) CAD 150 million Cumulative Redeemable Five-Year Rate Reset Preferred Shares, Series E (Series E Preferred Shares).

The issue is expected to close on or about December 13, 2013.

Net proceeds from the Series E Preferred Shares offering will be used for repayment of outstanding indebtedness of AltaGas or its subsidiaries, or for general corporate purposes.

Notes:
The applicable methodologies are Rating North American Pipeline and Diversified Energy Companies, Rating Companies in the North American Energy Utilities (Electric and Natural Gas) Industry, and DBRS Criteria: Preferred Share and Hybrid Criteria for Corporate Issuers (Excluding Financial Institutions), which can be found on our website under Methodologies.

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