DBRS Confirms Waterloo North Hydro Inc. at A (low), Stable

DBRS Limited (DBRS) confirmed the Issuer Rating of Waterloo North Hydro Inc. (the Company) at A (low) with a Stable trend. The rating reflects the stability of the Company’s electricity distribution business operating under a reasonable regulatory framework in a growing franchise area, as well as the Company’s strong financial risk profile. The Company’s rating is one notch lower than its DBRS-rated peers in the Ontario electricity distribution sector, largely reflecting the Company’s above-average refinancing risk.

Notes:
The principal methodology is Rating Companies in the Regulated Electric, Natural Gas and Water Utilities Industry (September 2017), which can be found on dbrs.com under Methodologies.

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 under Related Documents or by contacting us at info@dbrs.com.

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

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