Morningstar DBRS Assigns Rating of BBB (high), Stable, to ENMAX's $400 Million Senior Unsecured Debentures Issuance

DBRS Limited (Morningstar DBRS) assigned a rating of BBB (high) with a Stable trend to ENMAX Corporation's (ENMAX or the Company) $400 million 4.695% Senior Unsecured Debentures, Series 8, maturing on October 9, 2034 (the Debentures). The credit rating assigned to this newly issued debt instrument is based on the credit rating of an already-outstanding debt series of the above-mentioned debt instrument. Please refer to the Morningstar DBRS press release dated July 5, 2024 (https://dbrs.morningstar.com/research/435766/) for more information, including all relevant disclosures.

The Debentures are direct senior unsecured obligations of ENMAX and rank equally with all of the Company's other current and future senior unsecured obligations. ENMAX will use the net proceeds to repay $200 million aggregate principal amount of its 3.805% Senior Unsecured Debentures, Series 3 upon the maturity thereof on December 5, 2024, to repay other indebtedness of ENMAX including, without limitation, indebtedness under the credit facilities, and for general corporate purposes.

Information regarding Morningstar DBRS credit ratings, including definitions, policies, and methodologies, is available on dbrs.morningstar.com or contact us at info-DBRS@morningstar.com.

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