DBRS Morningstar Assigns Rating of BBB (high) with a Stable Trend to WSP Global Inc.’s Senior Unsecured Notes
ServicesDBRS Limited (DBRS Morningstar) assigned a rating of BBB (high) with a Stable trend to WSP Global Inc.’s (WSP or the Company) new Senior Unsecured Notes (the Notes). The Notes are in an aggregate amount of $500 million and will mature on April 19, 2028. They will be a direct senior unsecured obligation of WSP and will rank pari passu with all of the Company’s existing and future senior unsecured indebtedness. The net proceeds will be used to repay existing indebtedness and for other general corporate purposes.
For DBRS Morningstar rating rational, please refer to the April 8, 2021 press release “DBRS Morningstar Assigns Issuer Rating of BBB(H) with a Stable trend to WSP Global Inc.”.
ESG CONSIDERATIONS
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 methodology is Rating Companies in the Services Industry (January 29, 2021; https://www.dbrsmorningstar.com/research/372947), which can be found on dbrsmorningstar.com under Methodologies & Criteria. Other applicable methodologies include the DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings (February 3, 2021; https://www.dbrsmorningstar.com/research/373262).
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 related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link under Related Documents or by contacting us at info@dbrsmorningstar.com.
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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