Northwestern Hydro Acquisition Co Inc.: Rating Report

On March 19, 2021, DBRS Limited (DBRS Morningstar) confirmed Northwestern Hydro Acquisition Co Inc.'s (the Issuer) Issuer Rating and the Senior Secured Bonds (the Bonds) at A (low) with Stable trends. The Issuer is a taxable corporation owned by Manulife Financial Corporation (Manulife; rated “A” with a Stable trend by DBRS Morningstar) and Axium Infrastructure Canada II LP (Axium; together with Manulife, the Sponsors).