DBRS gives A (high) to Lower Mattagami bonds

DBRS said it finalized the A (high) rating with a stable trend on the $225 million Lower Mattagami Energy LP's 4.175% senior secured bonds, series 2012-1.

Proceeds will be used to repay short-term debt and to fund future redevelopment costs.

The financing plan to fund the $2.6 billion redevelopment and expansion includes a $700 million Commercial paper program (rated R-1 (low)), backstopped by a $700 million bank credit facility, to be periodically repaid with senior secured bonds.

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