DBRS Morningstar Assigns Rating of "A" with a Stable Trend to Alectra Inc.'s $300 Million Senior Unsecured Debentures

DBRS Limited (DBRS Morningstar) assigned a rating of “A” with a Stable trend to Alectra Inc.’s (Alectra or the Company; rated “A” with a Stable trend by DBRS Morningstar) $300 million 1.751% Series 2021-1 Senior Unsecured Debentures maturing February 11, 2031 (the Debentures). DBRS Morningstar based the Debentures rating on its rating of the already-outstanding series of the above-mentioned debt instruments.

The Debentures are direct unsecured obligations of Alectra and rank equally with all of the Company’s other senior unsecured obligations. Alectra will use proceeds from the Debentures to repay indebtedness and for general corporate purposes.

A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework can be found in the DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings at https://www.dbrsmorningstar.com/research/373262.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The principal methodologies are Rating Companies in the Regulated Electric, Natural Gas, and Water Utilities Industry (October 27, 2020) and DBRS Morningstar Criteria: Rating Corporate Holding Companies and Parent/Subsidiary Rating Relationships (November 2, 2020), which can be found on dbrsmorningstar.com under Methodologies & Criteria.

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.

For more information on this credit or on this industry, visit www.dbrsmorningstar.com or contact us at info@dbrsmorningstar.com.

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