DBRS Morningstar Assigns Rating of "A" with a Stable Trend to Alectra Inc.'s $250 Million Senior Unsecured Debentures

DBRS Limited (DBRS Morningstar) assigned a rating of “A” with a Stable trend to Alectra Inc.’s (Alectra or the Company) $250 million 5.225% Series 2022-1 Senior Unsecured Debentures maturing November 14, 2052 (the Debentures). The ratings assigned to the Debentures are based on the ratings of other already-outstanding series of Senior Unsecured Debentures.

The Debentures are direct senior unsecured obligations of Alectra and rank equally with all of the Company’s other senior unsecured obligations. Alectra will use proceeds from the Debentures to repay indebtedness and for general corporate purposes.

ENVIRONMENTAL, SOCIAL, GOVERNANCE CONSIDERATIONS
There were no Environmental/Social/Governance (ESG) factors that had a significant or relevant effect on the credit analysis.

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 (May 17, 2022).

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

The principal methodology is the Global Methodology for Rating Companies in the Regulated Electric, Natural Gas and Water Utilities Industry (https://www.dbrsmorningstar.com/research/402616; September 13, 2022), which can be found on dbrsmorningstar.com under Methodologies & Criteria.

A description of how DBRS Morningstar analyzes corporate finance transactions and how the methodologies are collectively applied can be found at: https://www.dbrsmorningstar.com/research/397223.

The conditions that lead to the assignment of a Negative or Positive trend are generally 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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