DBRS rates Veresen preferreds Pfd-3 (high)

DBRS said it finalized the provisional rating of Pfd-3 (high) on Veresen Inc.'s $200 million of cumulative redeemable preferred shares, series A.

The company assigned a provisional rating and placed it under review with developing implications.

After the issuance of the series A preferreds, DBRS removed the ratings from review and confirmed them with a stable trend.

DBRS said it is comfortable with the company's funding strategy, which includes appropriate measures to maintain a reasonable financial profile while executing its growth strategy.

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