S&P assigns BB to AltaGas notes

S&P said it assigned its BB issue-level rating to AltaGas Ltd.'s planned fixed-to-fixed rate subordinated notes series 3 due in November 2083.

The rating is the same as S&P’s ratings on AltaGas’ outstanding subordinated notes.

The company intends to use the proceeds to redeem or repurchase its outstanding cumulative redeemable, five-year, rate-reset preferred shares series E.

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