DBRS Assigns Rating of A (low) to Husky Energy Inc.’s USD 750 Million Offering of Ten-Year Notes

DBRS Limited (DBRS) assigned a rating of A (low) with a Stable trend to Husky Energy Inc.’s (Husky or the Company; rated A (low) with Stable trend by DBRS) announced offering of 4.40% notes in the principal amount of USD 750 million due April 15, 2029 (2029 Notes). The rating is based on the rating of an already-outstanding series of the above-mentioned debt instrument.

The 2029 Notes will be unsecured and rank pari passu with the Company’s other unsecured debt. The net proceeds of the offering will be used for general corporate purposes, which may include, among other things, the repayment of Husky’s outstanding debt securities maturing in 2019. DBRS notes that the issuance of the 2029 Notes marginally enhances the Company’s liquidity profile and financial flexibility by extending maturity and lowering the overall cost of debt.

Notes:
The principal methodologies are Rating Companies in the Oil and Gas and Oilfield Services Industries (August 2018), DBRS Criteria: Commercial Paper Liquidity Support for Non-Bank Issuers (April 2018) and DBRS Criteria: Preferred Share and Hybrid Security Criteria for Corporate Issuers (November 2018), which can be found on www.dbrs.com under Methodologies & Criteria.

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.

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