DBRS confirms Suncor, PC

DBRS said it confirmed the long- and short-term ratings on Suncor Energy Inc. and PC Financial Partnership at A (low) and R-1 (low), respectively.

The trends are stable.

Apart from teaming with a world-class integrated operator with substantial financial strength through their joint ventures, Suncor benefits from a modestly improved business risk profile through increased diversification, a near-term benefit for credit metrics and an enhanced capital management capability, DBRS said.

The joint ventures also are keys to the strategic development of Fort Hills and the Voyageur upgrader for start-up in 2016, the agency said.

The ratings also reflect the company's restored financial profile following its merger with PetroCanada in August 2009 with adequate cash flow support and improved operating metrics, DBRS said.

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