DBRS Morningstar Assigns Rating of BBB (low) With a Stable Trend to Inter Pipeline Ltd.’s $550 Million Senior Unsecured Notes Offering

DBRS Limited (DBRS Morningstar) assigned a rating of BBB (low) with a Stable trend to Inter Pipeline Ltd.’s (IPL) $550 million Senior Unsecured Notes, Series 14 (the Notes). The assigned rating is based upon the rating on an already-outstanding series of the above-mentioned debt instrument.

DBRS Morningstar notes that IPL plans to use the net proceeds from the Notes offering to repay indebtedness under its credit facilities 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/396929.

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

The principal methodologies are Rating Companies in the Pipeline and Midstream Energy Industry (November 3, 2021; https://www.dbrsmorningstar.com/research/387443), Rating Companies in the Oil and Gas and Oilfield Services Industries (August 16, 2021; https://www.dbrsmorningstar.com/research/383104), and DBRS Morningstar Criteria: Preferred Share and Hybrid Security Criteria for Corporate Issuers (October 21, 2021; https://www.dbrsmorningstar.com/research/386355). Other applicable methodologies include the DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings (May 17, 2022; https://www.dbrsmorningstar.com/research/396929).

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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