DBRS Rates AltaGas Ltd.’s USD 125 Million FRN Issue at BBB, Stable Trend

DBRS Limited (DBRS) has today assigned a rating of BBB with a Stable trend to the USD 125 million Senior Unsecured Floating-Rate Medium-Term Notes, Series 16, maturing on April 17, 2017 (the Notes), issued by AltaGas Ltd. (AltaGas). The settlement date for the Notes is April 14, 2015.

DBRS understands that the net proceeds from the sale of the above-noted securities to AltaGas will be used to pay down existing indebtedness and for general corporate purposes.

Notes:
The applicable DBRS methodologies are Rating Companies in the Pipeline and Diversified Energy Industry (January 2015), Rating Companies in the Regulated Electric, Natural Gas and Water Utilities Industry (October 2014) and Preferred Share and Hybrid Criteria for Corporate Issuers (January 2015), which can be found on our website under Methodologies.