DBRS Rates CU Inc.’s CAD 375 Million Debentures Issuance at A (high), Stable

DBRS Limited (DBRS) has today assigned a rating of A (high) with a Stable trend to CU Inc.’s (CUI or the Company) 30-year CAD 375 million 3.763% Debentures (Unsecured) due November 19, 2046. The settlement date for the Debentures is November 17, 2016.

The Debentures have been issued pursuant to CUI’s Short-Form Base Shelf Prospectus dated May 16, 2016. The Debentures will rank pari passu with all other unsubordinated and unsecured indebtedness of the Company.

DBRS understands that the proceeds from the issuance will be used to fund capital expenditures, to repay existing indebtedness and for other general corporate purposes.

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 2016), which can be found on our website under Methodologies.

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