Bruce Power L.P.: Rating Report

On May 22, 2020, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Senior Unsecured Notes rating of Bruce Power L.P. (BPLP or the Partnership) at BBB with Stable trends. The rating confirmations reflect BPLP’s stable business risk profile underpinned by the fixed-price Implementation Agreement and continuing robust credit metrics. The Stable trends reflect DBRS Morningstar's view that no material change to BPLP’s credit fundamentals are expected for the next 12 months. DBRS Morningstar believes that the ongoing Coronavirus Disease's (COVID-19) near-term impact on BPLP is limited.