DBRS Assigns Rating of BBB (high) with a Stable Trend to AltaGas Canada Inc.’s Unsecured Medium-Term Notes
Utilities & Independent PowerDBRS Limited (DBRS) assigned a rating of BBB (high) with a Stable trend to AltaGas Canada Inc.’s (the Company; rated BBB (high) with Stable trend by DBRS) offering of 3.15% Medium-Term Notes, Series 2, due April 2026 (the Senior Notes) in the principal amount of $250 million. The rating is based on the rating of an already-outstanding series of the above-mentioned debt instrument.
The Senior Notes are unsecured and rank pari passu with the Company’s other unsecured and unsubordinated debt. The net proceeds of the offering will be used to reduce existing indebtedness.
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 & 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.
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