DBRS Assigns Provisional Rating of AA to SCBCTA (TransLink)’s 3.05% Senior Unsecured Debt Issue due June 2025

DBRS Limited (DBRS) has today assigned a provisional rating of AA with a Stable trend to the new $130 million 3.05% Senior Unsecured Debt due June 4, 2025, issued by the South Coast British Columbia Transportation Authority (TransLink or the Authority). This debt issue ranks pari passu with all other existing and future senior unsecured obligations of the Authority and will be issued pursuant to a Fiscal Agency Agreement and in the form of a fully registered Global Bond.

Net proceeds from the issue will be used to finance capital expenditures as outlined in TransLink’s 2014 Base Plan and is consistent with DBRS’s expectations at the time of the most recent review (see press release entitled, “DBRS Confirms SCBCTA (TransLink) at AA, R-1 (middle), Stable Trends,” dated November 3, 2014).

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

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

The applicable methodology is Rating Canadian Municipal Governments, which can be found on our website under Methodologies.