DBRS Rates Hydro One’s Issue of $200 Million 5.49% Medium-Term Notes at A (high)
DBRS has today assigned a rating of A (high) with a Stable trend to Hydro One Inc.’s $200 million 5.49% medium-term notes (MTNs) due July 16, 2040. The MTNs are expected to settle on March 15, 2010. This is an additional tranche of 5.49% MTNs due July 16, 2040, of which an initial tranche of $300 million was issued on July 16, 2009.
The MTNs will rank pari passu with all of Hydro One Inc.’s other unsubordinated and unsecured indebtedness and will be issued pursuant to the Short-Form Base Shelf Prospectus dated July 27, 2009.
Proceeds from the issue will be used for general corporate purposes and repayment of indebtedness.
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.