DBRS Assigns R-1 (low) Rating to Cenovus Energy Inc.
DBRS has today assigned a rating of R-1 (low), with a Stable trend, to the Commercial Paper (CP) of Cenovus Energy Inc. The Canadian CP program will allow for issuance in both Canadian and U.S. dollars up to the equivalent of $1 billion, but will not be registered in the United States or for sale or delivery therein. The CP program will be supported by a $2 billion three-year committed credit facility.
Notes:
All figures are in Canadian dollars unless otherwise noted.
The applicable methodology is Rating Oil and Gas Companies, which can be found on our 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.
Ratings
| Issuer | Debt Rated | Rating Action | Rating | Trend | Notes | Published |
|---|---|---|---|---|---|---|
| Cenovus Energy Inc. | Commercial Paper | New Rating | R-1 (low) | Stb | Mar 5, 2010 | |
| Cenovus Energy Inc. | Senior Unsecured Debt | Confirmed | A (low) | Stb | Mar 5, 2010 |