DBRS Morningstar Discontinues Preferred Shares Rating of Westcoast Energy Inc.

DBRS Limited (DBRS Morningstar) discontinued Westcoast Energy Inc.’s (the Company) Preferred Shares rating. The rating is being discontinued at the request of the Company and follows the Company’s redemption of all of its outstanding Cumulative 5-Year Minimum Rate Reset Redeemable First Preferred Shares, Series 12. DBRS Morningstar notes that the discontinuation of the rating is unrelated to the credit risk profile of the Company.

ESG CONSIDERATIONS
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:
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: Preferred Share and Hybrid Security Criteria for Corporate Issuers (November 2, 2020; https://www.dbrsmorningstar.com/research/369165). 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.

The rated entity or its related entities did participate in the rating process for this rating action. DBRS Morningstar had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.

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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