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DBRS assigns Toronto Hydro debentures A
DBRS said it assigned a rating of A (high) with a stable trend to the C$300 million of 3.54% senior unsecured series 7 debentures of Toronto Hydro Corp.
The debentures will mature on Nov. 18, 2021 and rank equally with all of Toronto Hydro's other unsecured and unsubordinated indebtedness, the agency said.
Proceeds from the issue will be used to repay Toronto Hydro's outstanding $245.1 million of series 4 debentures due Dec. 30, 2011, and the balance will be used for general corporate purposes.
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