Press Release

Morningstar DBRS Assigns Credit Rating of A (low), Stable, to FortisAlberta Inc.'s $200 Million Senior Unsecured Debentures Issuance

Utilities & Independent Power
July 07, 2025

DBRS Limited (Morningstar DBRS) assigned a credit rating of A (low) with a Stable trend to FortisAlberta Inc.'s (FAB or the Company) $200 million 4.763% Senior Unsecured Debentures, due July 7, 2055 (the Debentures).

The Debentures are direct senior unsecured obligations of FAB and will rank equally with all of FAB's other current and future senior unsecured obligations. FAB intends to use the net proceeds from the issuance of the Debentures for general corporate purposes, including to repay indebtedness under its credit facilities and for financing of its capital expenditures.

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 Morningstar DBRS press release dated November 22, 2024 (https://dbrs.morningstar.com/research/443419) for more information, including all relevant disclosures.

The credit rating listed above is based on the Trust Indenture dated September 7, 2011, the Sixth Supplemental Trust Indenture dated July 7, 2025, the Term Sheet dated June 25, 2025, and information provided by FAB to Morningstar DBRS as of July 4, 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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