Credit Rating Report

407 East Development Group: Rating Report

Infrastructure

Summary

DBRS Limited (DBRS) confirmed 407 East Development Group General Partnership’s (ProjectCo or 407 East Development Group) Issuer Rating and the rating on ProjectCo’s Long-Term Senior Bonds at BBB (high). All trends are Stable. ProjectCo is the special-purpose entity (SPE) created to design, build, finance, maintain and perform lifecycle obligations of the Highway 407 east extension (the Extension or the Project) under a 33.6-year project agreement (PA) with the Province of Ontario (the Province; rated AA (low) with a Stable trend by DBRS). The rating continues to be supported by availability-based revenues from the Province; the pass-down of all service period obligations, including lifecycle risk, to an experienced service provider; and ProjectCo’s solid operating performance.

Available Documents

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