DBRS Assigns Rating of R-1 (low) with a Stable Trend to Alectra Inc.’s Proposed Commercial Paper Program

DBRS Limited (DBRS) assigned a Commercial Paper (CP) rating of R-1 (low) with a Stable trend to Alectra Inc. (Alectra or the Company). The Company has set a CP limit of $300 million. The rating is based on Alectra’s adequate liquidity available to manage the refinancing risk associated with the CP program. The CP program will be fully backed by a $500 million committed operating credit facility in place with sufficient same-day liquidity.

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

The principal methodologies are Rating Companies in the Regulated Electric, Natural Gas and Water Utilities Industry (September 2018) and DBRS Criteria: Commercial Paper Liquidity Support for Non-Bank Issuers (April 2018), 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.

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