DBRS Morningstar Assigns Rating of A (low) with a Stable Trend to Nova Scotia Power Inc.’s $300.0 Million Unsecured Notes Offering

DBRS Limited (DBRS Morningstar) assigned a rating of A (low) with a Stable trend to Nova Scotia Power Inc.’s (the Company; rated A (low) with a Stable trend by DBRS Morningstar) $300.0 million Unsecured Notes, Series 2020-1 offering due April 25, 2050 (the Notes). The rating assigned to the Notes is based on the ratings of other already-outstanding series of the Notes of the Company.

ESG CONSIDERATIONS
A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework and its methodologies can be found at: https://www.dbrsmorningstar.com/research/357792.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The principal methodologies are Rating Companies in the Regulated Electric, Natural Gas and Water Utilities Industry (September 16, 2019), DBRS Morningstar Criteria: Commercial Paper Liquidity Support for Non-Bank Issuers (March 10, 2020), and DBRS Morningstar Criteria: Rating Corporate Holding Companies and Parent/Subsidiary Rating Relationships (November 25, 2019), which can be found on dbrsmorningstar.com under Methodologies & Criteria.

For more information regarding rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/357883.

The rated entity or its related entities did participate in the rating process for this rating action. DBRS Morningstar had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.

For more information on this credit or on this industry, visit www.dbrsmorningstar.com or contact us at info@dbrsmorningstar.com.

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