DBRS Notes the CP Limit Increase of Imperial Oil Limited

DBRS today notes that Imperial Oil Limited (Imperial; rated AA (high), Stable trend), has increased the limit of its Commercial Paper (CP) program to $2.75 billion from $2.00 billion, effective June 26, 2014. Imperial’s current CP rating of R-1 (high) with a Stable trend remains unchanged. Imperial continues to maintain adequate liquidity to manage the refinancing risk associated with the CP program.

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

The applicable methodologies are Rating Companies in the Oil and Gas Industry (July 2013) and DBRS Criteria: Commercial Paper Liquidity Support for Non-Bank Issuers (February 2014), which can be found on the DBRS website under Methodologies.

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

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