DBRS Notes Enbridge Pipelines Inc.’s Commercial Paper Limit Increase

DBRS Limited (DBRS) notes that Enbridge Pipelines Inc. (EPI) has increased the limit on its Commercial Paper (CP) program to $3.0 billion from $2.5 billion. EPI’s CP program is backstopped by a $3.0 billion syndicated credit facility maturing in July 2019 with a term-out option to July 2020.

Based on its review, DBRS is satisfied that the Company’s revised CP program limit and its current credit facility meet DBRS’s requirements with respect to the DBRS Criteria: Commercial Paper Liquidity Support for Non-Bank Issuers. DBRS is of the view that the increase in EPI’s CP program limit has no impact on the credit profile of EPI. The DBRS rating on EPI’s CP program is 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 Pipeline and Diversified Energy Industry and DBRS Criteria: Commercial Paper Liquidity Support for Non-Bank Issuers, which can be found on dbrs.com under Methodologies & Criteria.

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

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