The Issuer intends to use the net proceeds from the sale of the Subordinated Notes to redeem or repurchase the Company's outstanding cumulative redeemable minimum rate reset Class A Preferred Shares, Series 11, and its cumulative redeemable minimum rate reset Class A Preferred Shares, Series 13, to repay other outstanding indebtedness, as well as for general corporate purposes.
A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework and its methodologies can be found at: https://www.dbrsmorningstar.com/research/357792.
Notes:
All figures are in Canadian dollars unless otherwise noted.
The principal methodologies are Rating Companies in the Pipeline and Diversified Energy Industry (
For more information regarding rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/357883.
The rated entity or its related entities did participate in the rating process for this rating action. DBRS Morningstar had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.
Generally, the conditions that lead to the assignment of a Negative or Positive trend are resolved within a 12-month period. DBRS Morningstar trends and ratings are under regular surveillance.
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Ratings
Date Issued Debt Rated Action Rating Trend Recovery Rating Attributes
i
US = Lead Analyst based in USA
CA = Lead Analyst based in
EU = Lead Analyst based in EU
E = EU endorsed
U =
Unsolicited Participating With Access
Unsolicited Participating Without Access
Unsolicited Non-participating
25-Jan-21 Fixed-to-Fixed Rate Subordinated Notes Provis.-Final BB (high) Stb -- CA
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