DBRS confirms Canadian Hydro debentures

DBRS said it has confirmed the rating of the senior unsecured debentures of Canadian Hydro Developers, Inc. at BBB with a stable trend.

The rating reflects the expectation of reasonably stable cash flow generation from Canadian Hydro's existing portfolio of assets, which features long-term power purchase arrangements as well as the support of the company's owner, TransAlta Corp. (BBB with a stable trend).

As was expected, EBITDA and cash flows have improved dramatically since Canadian Hydro completed its significant capital expansion, the agency said.

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