DBRS Rates AltaLink, L.P. CAD 450 Million MTN Issue at “A,” Stable Trend

DBRS Limited (DBRS) has today assigned a rating of “A” with a Stable trend to AltaLink, L.P.’s (AltaLink) issuance of CAD 450 million of 3.717% Medium-Term Notes (Secured; the MTNs), maturing December 3, 2046. The MTNs settled on December 1, 2016.

The MTNs were issued pursuant to AltaLink’s CAD 2.0 billion Short Form Base Shelf Prospectus dated June 23, 2015, and rank pari passu with all present and future senior secured indebtedness of AltaLink and have priority over all present and future unsecured indebtedness and all subordinated indebtedness. The proceeds will be used to repay AltaLink’s short-term indebtedness, including indebtedness outstanding under AltaLink’s Commercial Paper program.

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

The applicable methodologies are Rating Companies in the Regulated Electric, Natural Gas and Water Utilities Industry (October 2016) and DBRS Criteria: Commercial Paper Liquidity Support for Non-Bank Financial Issuers (April 2016), which can be found on our website under Methodologies.

The rated entity or its related entities did participate in the rating process. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities.