DBRS Rates Canadian Natural Resources Limited’s New Issue at BBB (high) with a Stable Trend

DBRS Limited (DBRS) has today assigned a rating of BBB (high) with a Stable trend to Canadian Natural Resources Limited’s (CNRL) issuance of $500 million through the reopening of its 2.89% Senior Unsecured Notes (the Notes) due August 14, 2020.

The Notes were issued pursuant to a base shelf prospectus dated November 1, 2013, as supplemented by a prospectus supplement dated June 3, 2015. The Notes rank pari passu with CNRL’s existing and future unsecured and unsubordinated indebtedness. Net proceeds from the sale of the Notes will be used by CNRL for general corporate purposes and repayment of debt.

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

The applicable methodology is Rating Companies in the Oil and Gas Industry, which can be found on our website under Methodologies.

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