DBRS Rates Hydro-Québec’s Issue of $500 Million 5.00% Series JN Debentures at A (high)
DBRS has today assigned a rating of A (high) with a Stable trend to Hydro-Québec’s $500 million Series JN Debentures (the Debentures), which are expected to settle on March 2, 2010. The Debentures will mature on February 15, 2050, and have a coupon of 5.00% payable semi-annually. This is the fourth additional tranche of Series JN Debentures (four tranches totaling $2.0 billion were previously issued in January, November and December 2009).
The Debentures will rank equally with all other debt securities of Hydro-Québec. Proceeds from this issue will be used for capital expenditures, repayment of outstanding debt or for general corporate purposes.
Notes:
All figures are in Canadian dollars unless otherwise noted.
The applicable methodology is Rating Utilities (Electric, Pipelines & Gas Distribution), which can be found on the DBRS website under Methodologies.
This is a Corporate rating.
For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.