DBRS Finalizes Provisional Rating of AltaGas Canada Inc.’s Unsecured Medium-Term Notes

DBRS Limited (DBRS) finalized its provisional rating of BBB (high) with a Stable trend on AltaGas Canada Inc.’s (ACI or the Company) $300.0 million Series 1 Unsecured Medium-Term Notes (the Senior Notes).

The Senior Notes mature on December 5, 2028, and bear interest at a fixed annual rate of 4.26%. The Senior Notes are direct unsecured obligations of ACI and rank equally and pari passu with all the other unsecured and unsubordinated indebtedness of the Company. The net proceeds from the sale of the Senior Notes will be used to pay down a portion of the amount outstanding under the promissory note dated October 18, 2018, in the principal amount of $351.2 million held by AltaGas Ltd. (rated BBB, Under Review – Developing by DBRS).

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 and DBRS Criteria: Rating Corporate Holding Companies and Their Subsidiaries, 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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