DBRS Morningstar Assigns Rating of BBB to Pembina Pipeline Corporation’s CAD 500 Million Medium-Term Notes

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 $100 million Medium Term Notes, Series 7; and (2) the $400 million Medium Term Notes, Series 16 (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.

Notes:
The principal methodologies are Rating Companies in the Pipeline and Diversified Energy Industry (November 26, 2019), DBRS Morningstar Criteria: Preferred Share and Hybrid Security Criteria for Corporate Issuers (November 1, 2019), and DBRS Morningstar Criteria: Rating Corporate Holding Companies and Parent/Subsidiary Rating Relationships (November 25, 2019), which can be found on dbrsmorningstar.com under Methodologies & Criteria.

For more information regarding rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/357883.

Generally, the conditions that lead to the assignment of a Negative or Positive trend are resolved within a 12-month period. DBRS Morningstar trends and ratings are under regular surveillance.

For more information on this credit or on this industry, visit www.dbrsmorningstar.com or contact us at [email protected].

DBRS Limited
DBRS Tower, 181 University Avenue, Suite 700
Toronto, ON M5H 3M7 Canada
Tel. +1 416 593-5577