Credit Rating Report

TransAlta Corporation: Rating Report

Utilities & Independent Power

Summary

DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Unsecured Debt/Medium-Term Notes rating of TransAlta Corporation (TAC) at BBB (low) and TAC’s Preferred Shares rating at Pfd-3 (low). The trends are Stable. The confirmations reflect TAC's (1) reasonable contractual profile, (2) low fuel risk and cost competitiveness, and (3) operational expertise.

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