DBRS rates AltaGas notes BBB

DBRS said it assigned a rating of BBB to AltaGas Ltd.'s proposed $200 million of 4.1% senior unsecured medium-term notes issue due March 24, 2016.

The trend is stable.

The proceeds will be used for repayment of outstanding bank indebtedness and for general corporate purposes.

Moody's: Arrow Lakes bonds A2

Moody's Investors Service said it assigned an A2 rating to the C$350 million of senior secured bonds expected to be issued by Arrow Lakes Power Corp.

The outlook is stable.

The proceeds will be used to repay existing indebtedness, fund some reserves and pay a special dividend to the company's owners.

The company is deemed to be a government-related issuer. As such, the rating reflects the Aaa local-currency rating of the Province of British Columbia, along with its high dependence and strong support.

The rating is tempered by the residual risk related to operating and maintenance costs and capital expenditures being higher than expected, Moody's said.

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