DBRS Assigns Rating of BBB (high) to Canadian Natural Resources Ltd. Notes

DBRS has today assigned a rating of BBB (high) with a Stable trend to Canadian Natural Resources Limited’s (CNRL) $500 million 3.05% unsecured medium-term note debentures (the Notes), maturing June 19, 2019. The Notes are expected to settle on June 19, 2012.

The Notes will rank equally with CNRL’s existing and future unsecured and unsubordinated indebtedness, and the net proceeds from the offering will be used for repayment of bank debt, as well as for general corporate purposes.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodology is Rating Oil and Gas Companies, which can be found on the DBRS website under Methodologies.