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S&P rates Inter Pipeline notes BBB-
S&P said it assigned its BBB- issue-level rating to Inter Pipeline Ltd.'s (IPL) C$750 million of senior unsecured series 15 notes, and C$500 million of senior unsecured series 16 notes.
The BBB- long-term issuer credit rating and negative outlook on IPL are unchanged, the agency said.
The series 15 notes carry a fixed interest rate of 5.76% per year and mature on Feb. 17, 2028; the series 16 notes have a fixed interest rate of 6.38% per year and mature on Feb. 17, 2033.
IPL will use proceeds to repay credit facilities borrowings and for general corporate purposes.
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