DBRS reviews Pacific Northern

DBRS said it placed the BBB (low) secured debentures and Pfd-3 (low) cumulative redeemable preferred shares of Pacific Northern Gas Ltd. under review with developing implications following the announcement by AltaGas Ltd. (BBB, stable) that it offered to acquire the company.

The agency will provide further commentary once additional details of AltaGas's offer and its potential impact, if any, on Pacific Northern Gas are known. DBRS said one area of focus will be any potential changes to Pacific Northern Gas' currently conservative capital structure.

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