DBRS Assigns Rating of A (low), Stable Trend, to Saputo Inc.’s Medium Term Notes

DBRS Limited (DBRS) has today assigned a rating of A (low) with a Stable trend to Saputo Inc.’s (Saputo) $300 million Series 3 Medium Term Notes (the Notes) offering announced on November 16, 2016.

The senior unsecured debt issuance is made up of a single tranche of $300 million Series 3 Medium Term Notes due 2023.

The Notes will be unsecured obligations ranking pari passu with Saputo’s existing and future senior indebtedness. Saputo is expected to use the proceeds to repay indebtedness outstanding under its credit facility and for general corporate purposes.

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

The applicable methodology is Rating Companies in the Consumer Products Industry (September 2016), 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.