DBRS Morningstar Assigns a Credit Rating of BBB (high) with a Stable Trend to WSP Global Inc.’s New Debt Issuance

DBRS Limited (DBRS Morningstar) assigned a credit rating of BBB (high) with a Stable trend to WSP Global Inc.’s (WSP) new Senior Unsecured Notes (the Notes). The Notes are of an aggregate amount of $500 million and are to mature on November 22, 2030. They will be a direct senior unsecured obligation of WSP and will rank pari passu with all of WSP’s existing and future senior unsecured indebtedness. The net proceeds will be used to repay existing indebtedness and for other general corporate purposes.

The rating assigned to this newly issued debt instrument is based on the rating of an already-outstanding debt series of the above-mentioned debt instrument.

ENVIRONMENTAL, SOCIAL, GOVERNANCE CONSIDERATIONS
There were no Environmental/Social/Governance 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 (July 4, 2023) at https://www.dbrsmorningstar.com/research/416784.

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

DBRS Morningstar applied the following principal methodology:
-- Global Methodology for Rating Companies in the Services Industry (February 14, 2023; https://www.dbrsmorningstar.com/research/409773)

The credit rating methodologies used in the analysis of this transaction can be found at: https://www.dbrsmorningstar.com/about/methodologies.

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 credit ratings are under regular surveillance.

Information regarding DBRS Morningstar credit ratings, including definitions, policies, and methodologies, is available on www.dbrsmorningstar.com or contact us at [email protected].

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