ENMAX Corporation: Rating Report

On July 8, 2021, DBRS Limited (DBRS Morningstar) confirmed ENMAX Corporation's (ENMAX or the Company) Issuer Rating and Unsecured Debentures rating at BBB (high) and its Commercial Paper (CP) rating at R-2 (high). All trends are Stable. ENMAX's ratings reflect the stability of the Company's regulated electricity transmission and distribution operations in the Province of Alberta (Alberta or the Province; rated AA (low) with a Negative trend by DBRS Morningstar) and the state of Maine (Maine), offset by its higher-risk nonregulated generation business