Morningstar DBRS Assigns Credit Rating of BBB (high) With a Stable Trend to TransCanada PipeLines Limited's $1.0 billion Senior Unsecured Medium Term Note Debentures

(Morningstar DBRS) assigned a credit rating of BBB (high) with a Stable trend to TransCanada PipeLines Limited's (TCPL) $1.0 billion 4.575% Senior Unsecured Medium Term Note Debentures due February 20, 2035.

The net proceeds will be used by TCPL to repay indebtedness and for general corporate purposes.

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 press release dated August 09, 2024 (https://dbrs.morningstar.com/research/437738) for more information, including all relevant disclosures.

The ratings listed above are based on the Short Form Base Shelf Prospectus dated December 5, 2024; prospectus supplement dated December 6, 2024; the Final Term Sheet dated February 18, 2025; the Pricing Supplement dated February 18, 2025; and information provided by TCPL to Morningstar DBRS as of February 19, 2025.

Continuation of the rating is subject to the provision to Morningstar DBRS of timely and sufficient information and/or data for the purposes of monitoring the above-noted rating.

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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