DBRS Morningstar Assigns Ratings of BBB (high) With Stable Trends to Enbridge Inc.’s Newly Issued Senior Notes

DBRS Limited (DBRS Morningstar) assigned ratings of BBB (high) with Stable trends to Enbridge Inc.’s USD 500 million 0.55% unsecured senior notes maturing on October 4, 2023; USD 500 million 1.6% senior notes maturing on October 4, 2026; and USD 500 million 3.4% unsecured senior notes (re-opening of a previous issue) maturing on August 1, 2051 (collectively, the Notes). DBRS Morningstar based the ratings assigned to these Notes on the rating on the already-outstanding series of senior unsecured notes.

The net proceeds will be used for repayment of short-term debt, capital expenditures, and 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 U.S. dollars unless otherwise noted.

The principal methodologies are Rating Companies in the Pipeline and Diversified Energy Industry (November 19, 2020; https://www.dbrsmorningstar.com/research/370267) and DBRS Morningstar Criteria: Rating Corporate Holding Companies and Parent/Subsidiary Rating Relationships (November 2, 2020; https://www.dbrsmorningstar.com/research/369167), 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.

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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