DBRS Rates Enbridge Energy Partners, L.P.’s New Issue at BBB, Stable
DBRS has today assigned a rating of BBB, with a Stable trend, to the proposed $500 million of 5.2% senior unsecured notes (the Notes) issue of Enbridge Energy Partners, L.P. (EEP) maturing March 15, 2020. The issue is expected to settle on March 2, 2010.
The Notes will rank equally with all of EEP’s other senior unsecured indebtedness. Net proceeds from the issue will be used to repay borrowings under EEP’s credit facility and/or commercial paper program incurred to finance a portion of its capital expenditures.
Notes:
All figures are in U.S. dollars unless otherwise noted.
The applicable methodology is Rating Utilities (Electric, Pipelines & Gas Distribution), which can be found on our website under Methodologies.
This is a Corporate (Energy) rating.
For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.