DBRS Confirms Maritime Link Financing Trust Guaranteed Senior Bonds at AAA, Stable Trend

DBRS Limited (DBRS) has today confirmed its rating of AAA with a Stable trend on the $1.3 billion Series A Guaranteed Senior Bonds (the Bonds), due December 1, 2052, of Maritime Link Financing Trust, the special-purpose trust established under the laws of Nova Scotia to finance construction of the Maritime Link Transmission Project (the Project). The Bonds are unconditionally and irrevocably guaranteed by the Government of Canada (Canada; rated AAA, Stable). Therefore, the rating of the Bonds will move in tandem with Canada’s rating, irrespective of the Project’s underlying risks. On October 2, 2015, DBRS confirmed Canada’s AAA rating with a Stable trend.

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

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com.

The applicable methodologies are Rating Project Finance and DBRS Criteria: Guarantees and Other Forms of Explicit Support, which can be found on our website under Methodologies.

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