DBRS Comments on Suncor Energy Inc.’s CP Program Limit Increase to $5.0 Billion from $4.0 Billion

DBRS Limited (DBRS) notes that Suncor Energy Inc.’s (Suncor) Commercial Paper (CP) program limit has been increased to $5.0 billion from $4.0 billion, which is fully supported by a facility of $4.0 billion and USD 2.0 billion.

DBRS reviewed the credit facility agreements, as well as documentation related to Suncor’s CP program, and is satisfied that DBRS’s CP liquidity backup requirements will continue to be met. DBRS believes that this development has no impact on Suncor’s CP rating of R-1 (low) with a Stable trend.

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

The principal methodologies are Rating Companies in the Oil and Gas Industry and Oilfield Services Industries (August 2017), DBRS Criteria: Commercial Paper Liquidity Support for Non-Bank Issuers (March 2017) and DBRS Criteria: Guarantees and Other Forms of Support (January 2018), which can be found on www.dbrs.com under Methodologies.

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