Bruce Power L.P.: Rating Report

On May 19, 2023, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Senior Unsecured Notes rating of Bruce Power L.P. (BPLP or the Partnership) at BBB with Stable trends. The rating confirmations reflect BPLP’s stable business risk profile underpinned by the inflation-indexed fixed-price Implementation Agreement and its robust credit metrics. The Stable trends reflect DBRS Morningstar's view that no material changes to BPLP’s credit fundamentals are expected for the next 12 months.