DBRS rates TransCanada notes A (low)

DBRS said it assigned a rating of A (low) with a stable trend to TransCanada PipeLines Ltd.’s C$1 billion 4.34% unsecured medium-term note debentures due 2049.

The proceeds will be used to repay existing indebtedness and for general corporate purposes, DBRS said.

The notes will rank pari passu except as to sinking funds and other claims preferred by operation of law with all other unsecured and unsubordinated indebtedness of the company, the agency said.

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