DBRS Rates CP Rail’s New Debt Shelfs at BBB, Negative Trend

DBRS has today assigned a BBB rating, with a Negative trend, to the Shelf Registrations (Shelf) entered into by Canadian Pacific Railway Company (CP) for the issuance of up to $1.5 billion of Medium-Term Notes and up to US$1.5 billion of Senior Unsecured Debt. Debt securities issued under these agreements will rank pari passu with all other unsecured and unsubordinated indebtedness of CP.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodology is Rating Companies in the Railway Industry, which can be found on our website under Methodologies.

This is a Corporate rating.

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