DBRS Rates Toronto Hydro Corporation’s CAD 200 Million Senior Unsecured Debentures at A (high), Stable

DBRS Limited (DBRS) has today assigned a rating of A (high) with a Stable trend to Toronto Hydro Corporation’s (THC) 30-year CAD 200 million 3.55% Senior Unsecured Debentures, Series 11 (the Debentures) due July 28, 2045. The settlement date for the Debentures is March 16, 2015.

The Debentures will rank equally (except as to sinking funds and to the extent prescribed by law) with all other unsecured and unsubordinated indebtedness of THC. It is DBRS’s understanding that the net proceeds from the sale of the Debentures will be used to repay certain existing indebtedness and for general corporate purposes.

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

The applicable methodology is Rating Companies in the Regulated Electric, Natural Gas and Water Utilities Industry and DBRS Criteria: Commercial Paper Liquidity Support for Non-Bank Issuers, which can be found on the DBRS website under Methodologies.