DBRS Morningstar Assigns Rating of "A" with a Stable Trend to Enbridge Pipelines Inc.'s Newly Issued Medium-Term Notes

DBRS Limited (DBRS Morningstar) assigned ratings of “A” with Stable trends to Enbridge Pipelines Inc.’s $400 million 2.82% unsecured medium-term notes maturing on May 12, 2031, and $400 million 4.20% unsecured medium-term notes maturing on May 12, 2051 (collectively, the Notes). The ratings assigned to these Notes are based upon the rating on the already-outstanding series of the above-mentioned debt instrument.

The net proceeds will be used for repayment of short-term debt, capital expenditures, and for general corporate purposes.

A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework can be found in the DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings at https://www.dbrsmorningstar.com/research/373262.

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

The principal methodologies are Rating Companies in the Pipeline and Diversified Energy Industry (November 19, 2020; https://www.dbrsmorningstar.com/research/370267) and DBRS Morningstar Criteria: Rating Corporate Holding Companies and Parent/Subsidiary Rating Relationships (November 2, 2020; https://www.dbrsmorningstar.com/research/369167), which can be found on dbrsmorningstar.com under Methodologies & Criteria. Other applicable methodologies include the DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings (February 3, 2021; https://www.dbrsmorningstar.com/research/373262).

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].

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