DBRS Finalizes Rating of AA on SCBCTA (TransLink)’s 3.05% Senior Unsecured Debt Issue due June 2025, Series TL-5

DBRS Limited (DBRS) has today finalized the provisional rating of AA with a Stable trend on the new $130 million 3.05% Senior Unsecured Debt due June 4, 2025, Series TL-5 issued by the South Coast British Columbia Transportation Authority (TransLink or the Authority).

Following the review of documentation associated with the recent offering, DBRS has confirmed that the terms of the issuance are consistent with those reviewed at the time the provisional rating was assigned on November 21, 2014. This debt issue ranks pari passu with all other existing and future senior unsecured obligations of the Authority and was issued pursuant to a Fiscal Agency Agreement and in the form of a fully registered Global Bond.

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

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

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