DBRS Morningstar Assigns Rating of BBB to Inter Pipeline Ltd.’s $700 Million Medium-Term Notes

DBRS Limited (DBRS Morningstar) assigned a rating of BBB with Stable trend to Inter Pipeline Ltd.’s (the Issuer) $700.0 million 4.232% Medium Term Notes, Series 11 due June 1, 2027 (the Notes). The rating assigned to the Notes is based on the ratings of other already-outstanding series of the notes of the Issuer.

The Issuer intends to use the net proceeds from the issue of the Notes to repay indebtedness under its $1.5 billion revolving credit facility and Medium Term Notes, Series 4 due July 2020 and for general corporate purposes.

A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework and its methodologies can be found at: https://www.dbrsmorningstar.com/research/357792.

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

The principal methodologies are Rating Companies in the Pipeline and Diversified Energy Industry (November 26, 2019); Rating Companies in the Oil and Gas and Oilfield Services Industries (August 23, 2019); DBRS Morningstar Criteria: Rating Corporate Holding Companies and Parent/Subsidiary Rating Relationships (November 25, 2019); and DBRS Morningstar Criteria: Preferred Share and Hybrid Security Criteria for Corporate Issuers (November 1, 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.

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

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