Press Release

DBRS Finalizes Rating of AAA on Guaranteed Senior Bonds of Muskrat Falls/Labrador Transmission Assets Funding Trust and Labrador-Island Link Funding Trust, Stable Trend

Project Finance
December 13, 2013

DBRS has today finalized its rating of AAA with a Stable trend on the 3.63% Series A Guaranteed Senior Bonds maturing on June 1, 2029, the 3.83% Series B Guaranteed Senior Bonds maturing on June 1, 2037, and the 3.86% Series C Guaranteed Senior Bonds maturing on December 1, 2048, of Muskrat Falls/Labrador Transmission Assets Funding Trust. DBRS has also finalized its rating of AAA with a Stable trend on the 3.76% Series A Guaranteed Senior Bonds maturing on June 1, 2033, the 3.86% Series B Guaranteed Senior Bonds maturing on December 1, 2045, and the 3.85% Series C Guaranteed Senior Bonds maturing on December 1, 2053, of Labrador-Island Link Funding Trust. The ratings reflect the unconditional and irrevocable guarantee provided by the Government of Canada (rated AAA with a Stable trend) on the bonds.

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

The applicable methodology is DBRS Criteria: Guarantees and Other Forms of Explicit Support, which can be found on our website under Methodologies.

Ratings

Muskrat Falls/Labrador Transmission Assets Funding Trust and Labrador-Island Link Funding Trust
  • Date Issued:Dec 13, 2013
  • Rating Action:Provis.-Final
  • Ratings:AAA
  • Trend:Stb
  • Rating Recovery:
  • Issued:CA
  • US = Lead Analyst based in USA
  • CA = Lead Analyst based in Canada
  • EU = Lead Analyst based in EU
  • UK = Lead Analyst based in UK
  • E = EU endorsed
  • U = UK endorsed
  • Unsolicited Participating With Access
  • Unsolicited Participating Without Access
  • Unsolicited Non-participating

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