EPCOR Utilities Inc.: Rating Report

On September 17, 2020, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Senior Unsecured Debentures rating of EPCOR Utilities Inc. (EUI or the Company) at A (low), and the Commercial Paper (CP) rating at R-1 (low). All trends are Stable. The confirmations reflect the stability of the Company's regulated electricity and water operations. The Stable trends are based on EUI's strong financial risk assessment and incorporate the modest deterioration expected year over year as the Company continues its large capital expenditures (capex) program.