Morningstar DBRS Assigns Credit Rating of BBB With a Stable Trend to Stantec Inc.'s Series 3 Senior Unsecured Notes

DBRS Limited (Morningstar DBRS) assigns a credit rating of BBB with a Stable trend to Stantec Inc.'s (Stantec or the Company) CAD425 million 4.374% Senior Unsecured Notes (Series 3) due June 10, 2032.

The notes are unsecured and rank pari-passu with all other unsecured indebtedness of the Company. Morningstar DBRS expects the Company to use the net proceeds from this offering for the repayment of existing debt 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 https://dbrs.morningstar.com/research/443608 (November 27, 2024) for more information, including all relevant disclosures.

The rating listed above is based on Third Supplemental Trust Indenture and information provided by Stantec to Morningstar DBRS as of June 10, 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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