DBRS assigns Hydro One notes A

DBRS said it assigned ratings of A (high) with stable trends to Hydro One Inc.’s C$1.1 billion medium-term notes offering, which is composed of C$400 million of 1.76% (series 45) due 2025, C$400 million of 2.16% (series 46) due 2030 and C$300 million of 2.71% (series 47) due 2050. The ratings are based on the ratings of other already outstanding series of medium-term notes.

Proceeds will be used to repay long-term and short-term debt and for general corporate purposes. The notes will be direct, unsecured obligations of Hydro One and rank pari passu with all the company’s other unsecured and unsubordinated indebtedness.

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