DBRS Assigns Issuer Rating of A (low), Stable, to Waterloo North Hydro Inc.

DBRS Limited (DBRS) has today assigned an Issuer Rating of A (low) with a Stable trend to Waterloo North Hydro Inc. (the Company). The rating reflects the stability of the Company’s electricity distribution business operating under a transparent and supportive regulatory framework in a growing franchise area. The Company’s financial risk profile is reasonable with key credit metrics that are supportive of the “A” rating. The Company’s rating is one-notch lower than its other DBRS-rated peers in the Ontario electricity distribution sector, largely reflecting the Company’s above-average refinancing risk.

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

The applicable methodology is Rating Companies in the Regulated Electric, Natural Gas and Water Utilities Industry (October 2015), which can be found on our website under Methodologies.

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

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.