DBRS Rates AltaGas Ltd.’s New Issue at BBB, Stable Trend

DBRS Limited (DBRS) has today assigned a rating of BBB with a Stable trend to the $300 million 3.84% Medium-Term Notes – Series 15, maturing on January 15, 2025 (the Notes), issued by AltaGas Ltd. The settlement date for the Notes is November 10, 2014.

Net proceeds from the sale of the above-noted securities will be used to fund the previously announced early redemption of the $100 million 6.94% Medium-Term Notes due June 29, 2016, fund the proposed early redemption of the $200 million 4.10% Medium-Term Notes due March 24, 2016, and for general corporate purposes.

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

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