DBRS Rates AltaGas Ltd. Preferred Share Issue at Pfd-3, Stable Trend

DBRS has today assigned a rating of Pfd-3 with a Stable trend to the $200 million Cumulative Redeemable Five-Year Rate Reset Preferred Shares, Series G issued by AltaGas Ltd. The offering is expected to close on July 3, 2014.

Net proceeds from the sale of the above-noted securities will be used to reduce existing indebtedness and for general corporate purposes.

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

The applicable methodologies are Rating Pipeline and Diversified Energy Companies (January 2014), Rating Companies in the Regulated Electric, Natural Gas and Water Utilities Industry (January 2014) and Preferred Share and Hybrid Criteria for Corporate Issuers (Excluding Financial Institutions) (December 2013), which can be found on our website under Methodologies.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.