DBRS might downgrade Veresen

DBRS said it placed Veresen Inc.'s BBB (high) issuer and senior debt ratings and Pfd-3 (high) preferred shares rating under review with negative Implications.

The agency said that if the planned acquisition of a 50% convertible preferred interest in the Ruby pipeline system proceeds as expected, Veresen's overall business risk profile is expected to weaken and its financial risk profile is expected to deteriorate modestly. As a result, DBRS expects to downgrade Veresen's ratings by one notch following the completion of the acquisition.

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