Credit Rating Report

Mountain View Partners GP: Rating Report

Infrastructure

Summary

DBRS Limited (Morningstar DBRS) confirmed Mountain View Partners GP (MVP or ProjectCo)'s Issuer Rating and the rating of MVP's $380.8 million Series A Bonds (the Bonds) at A (low). Both trends are Stable. ProjectCo is the special-purpose entity created to design, build, finance, operate, and maintain the Southwest Calgary Ring Road Project under a 35-year project agreement with the Province of Alberta (rated AA with a Stable trend by Morningstar DBRS).