DBRS Morningstar Assigns Rating of BBB with a Stable Trend to Keyera Corp.’s CAD 400 Million Medium-Term Notes

DBRS Limited (DBRS Morningstar) assigned a rating of BBB with a Stable trend to the CAD 400 million 5.022% Medium-Term Notes (the Notes) issued by Keyera Corp. (rated BBB with a Stable trend by DBRS Morningstar). The Notes will mature on March 28, 2032.

The assigned rating is based upon the rating on an already-outstanding series of the above-mentioned debt instrument.

A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework can be found in the DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings at https://www.dbrsmorningstar.com/research/373262.

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

The principal methodologies are Rating Companies in the Pipeline and Midstream Energy Industry
(November 3, 2021; https://www.dbrsmorningstar.com/research/387443) and DBRS Morningstar Criteria: Preferred Share and Hybrid Security Criteria for Corporate Issuers (October 21, 2021;
https://www.dbrsmorningstar.com/research/386355). Other applicable methodologies include the DBRS
Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings
(February 3, 2021; https://www.dbrsmorningstar.com/research/373262).

Generally, the conditions that lead to the assignment of a Negative or Positive trend are resolved within a 12-month period. DBRS Morningstar trends and ratings are under regular surveillance.

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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