DBRS Assigns BBB Ratings to Pembina Pipeline Corporation’s $700 Million Medium-Term Notes, Stable Trend

DBRS Limited (DBRS) assigned the following ratings to Pembina Pipeline Corporation’s (Pembina or the Company) offering of $400 million Series 10 and $300 million Series 11 Medium-Term Notes:

-- $400 million, 4.02% Medium-Term Notes, Series 10, due March 27, 2028, rated BBB
-- $300 million, 4.75% Medium-Term Notes, Series 11, due March 26, 2048, rated BBB

All trends are Stable.

DBRS notes that the above-noted securities will rank pari passu with all the other unsecured and unsubordinated indebtedness of the Company, except as to sinking fund or analogous provisions, if any. It is DBRS’s understanding that the net proceeds from the offering will be used to repay indebtedness, including the Company’s unsecured $2,500 million revolving credit facility and an unsecured $20 million operating facility, as well as to fund the Company’s capital program and for general corporate purposes.

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

The principal methodology is Rating Companies in the Pipeline and Diversified Energy Industry, 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.