Credit Rating Report

Canadian Pacific Railway Company: Rating Report

Transportation

Summary

On November 20, 2018, DBRS Limited (DBRS) upgraded the Issuer Rating, Medium-Term-Notes rating and Unsecured Debentures rating of Canadian Pacific Railway Company (CP or the Company) to BBB (high) from BBB as well as its Commercial paper rating to R-2 (high) from R-2 (middle).

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