DBRS Finalizes Provisional BBB Rating on CP Rail’s New Debt Issuance, Stable Trend

DBRS has today finalized the provisional rating of BBB, with a Stable trend, on the US$350 million principal amount of notes (the Notes) issued by Canadian Pacific Railway Company (CP). The Notes will pay an annual interest rate of 4.45%, paid on a semi-annual basis on March 15 and September 15 of each year, beginning March 15, 2011, and will mature on March 15, 2023. The Notes are unsecured obligations and rank pari passu with all of CP’s existing and future unsecured and unsubordinated indebtedness.

See DBRS’s CP press release dated September 20, 2010, for further details.

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