Moody's rates Lower Mattagami bonds A2

Moody's Investors Service said it assigned an A2 rating to the C$200 million five-year senior secured bonds expected to be issued by Lower Mattagami Energy LP.

The agency said it also affirmed the company's A2 senior secured debt rating on the existing debt and the P-1 short-term rating for the company's commercial paper program.

The outlook remains stable.

"The affirmation of the ratings and stable outlook takes into account that the construction of the four hydroelectric generating stations is progressing well" said Catherine Deluz, a vice president and senior credit officer, in a news release.

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