NOVA Gas Transmission Ltd.: Rating Report

On June 21, 2019, DBRS Limited (DBRS) confirmed the rating on the Medium-Term Notes & Unsecured Debentures issued by NOVA Gas Transmission Ltd. (NGTL or the Company) at A (low) with a Stable trend. The rating primarily reflects the strong financial and liquidity support from NGTL’s parent, TransCanada PipeLines Limited (TCPL; rated A (low) with a Stable trend by DBRS) and a supportive regulatory framework that allows the Company to recover costs and earn an adequate return on its investment base over a reasonable time frame.