DBRS Assigns Rating of A (low), Stable Trend, to TransCanada PipeLines Limited’s New Issue

DBRS Limited (DBRS) has today assigned a rating of A (low) with a Stable trend to TransCanada PipeLines Limited’s (TCPL) issuance of USD 750 million of 4.6% Senior Notes with a maturity date of March 31, 2045.

The Senior Notes rank equally with all of TCPL’s existing senior unsecured indebtedness. Net proceeds from the sale of this offering will be used to reduce short-term indebtedness of TCPL and its affiliates and for general corporate purposes.

Notes:
The applicable methodology is Rating Companies in the Pipeline and Diversified Energy Industry (January 2015), which can be found on our website under Methodologies.

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