DBRS Notes the CP Limit Increase of Toronto Hydro Corporation

DBRS Limited (DBRS) today notes that Toronto Hydro Corporation (THC; rated A, Stable trend), has increased the limit of its commercial paper (CP) program to CAD 600 million from CAD 500 million, effective July 30, 2015. THC’s current CP rating of R-1 (low), with a Stable trend, remains unchanged. DBRS expects THC to maintain adequate liquidity to manage the refinancing risk associated with its CP program.

Notes:
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.

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