DBRS Assigns A (low) Rating to TransCanada PipeLines Limited’s New Issue, Stable Trend

DBRS Limited (DBRS) has today assigned a rating of A (low) with a Stable trend to TransCanada PipeLines Limited’s (TCPL) issuance of USD 500 million fixed rate Senior Notes maturing on January 12, 2018, and USD 250 million floating rate Senior Notes maturing January 12, 2018 (collectively, the Notes). The Notes are expected to settle on January 12, 2015.

The Notes will be TCPL’s direct unsecured obligations and will rank equally with all of TCPL’s existing and future senior unsecured and unsubordinated indebtedness. Net proceeds from sale of this offering will be used to reduce short-term indebtedness of TCPL and its affiliates and for general corporate purposes.

Notes:
The applicable methodology is Rating Pipeline and Diversified Energy Companies (January 2014), which can be found on our website under Methodologies.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.