DBRS Assigns Rating of A (low) with a Stable Trend to Nova Scotia Power Inc.’s Unsecured Medium-Term Notes

DBRS Limited (DBRS) assigned a rating of A (low) with a Stable trend to Nova Scotia Power Inc.’s (the Company; rated A (low) with Stable trend by DBRS) offering of 3.571% Medium-Term Notes, due April 2049 (the Senior Notes) in the principal amount of $400 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, to finance capital expenditures and for other general corporate purposes.

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

The principal methodology is Rating Companies in the Regulated Electric, Natural Gas and Water Utilities Industry, 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.

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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