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DBRS rates Pembina Pipeline preferreds pfd-3
DBRS said it assigned a rating of pfd-3 with a stable trend to C$225 million cumulative redeemable rate reset class A preferred shares, series 9 issued by Pembina Pipeline Corp.
The preferreds will rank pari passu with all of Pembina’s currently outstanding class A preferred shares and will rank junior to all of Pembina’s debentures, notes and other unsecured and unsubordinated debt.
Net proceeds will be used to partially fund Pembina’s capital projects and for other general corporate purposes.
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