Press Release

DBRS Morningstar Assigns Rating of BBB to Pembina Pipeline Corporation’s $1.0 Billion Medium Term Notes

January 10, 2020

DBRS Limited (DBRS Morningstar) assigned a rating of BBB with a Stable trend to the following securities issued by Pembina Pipeline Corporation (the Issuer): (1) the $250 million Medium Term Notes, Series 10; (2) the $500 million Medium Term Notes, Series 11; and (3) the $250 million Medium Term Notes, Series 12 (collectively, the MTNs). The rating being assigned is based upon the ratings on already-outstanding series of the above-mentioned debt instruments.

The Issuer intends to use the net proceeds from the issue of the MTNs to repay its existing indebtedness under its unsecured $2.5 billion revolving credit facility, to fund its capital program, and for general corporate purposes.

All figures are in Canadian dollars unless otherwise noted.

The principal methodologies are Rating Companies in the Pipeline and Diversified Energy Industry and DBRS Morningstar Criteria: Preferred Share and Hybrid Security Criteria for Corporate Issuers, which can be found on under Methodologies & Criteria.

For more information on this credit or on this industry, visit or contact us at

DBRS Limited
DBRS Tower, 181 University Avenue, Suite 700
Toronto, ON M5H 3M7 Canada