Algonquin Power & Utilities Corp.: Rating Report

On January 22, 2020, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Preferred Shares rating of Algonquin Power & Utilities Corp. (APUC or the Company) at BBB and Pdf-3, respectively. Both trends are Stable. The rating confirmations reflect stable and strong cash flow from its two principal subsidiaries: (1) Liberty Utilities Co. (LUCO), the guarantor of the debt issued by Liberty Utilities Finance GP1 (LUF;rated BBB (high) with a Stable trend by DBRS Morningstar); and (2) Algonquin Power Co. (operating as Liberty Power Co. (APCO); rated BBB with a Stable trend by DBRS Morningstar).