DBRS rates Ontario Power notes A

DBRS said it assigned a rating of A (low) with a stable trend to Ontario Power Generation Inc.’s C$500 million 2.947% series 9 medium-term notes maturing Febr. 21, 2051.

DBRS said it based the rating on an already-outstanding series of the debt mentioned above instruments.

Ontario Power will use proceeds to repay indebtedness, working capital requirements and general corporate purposes.

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