DBRS confirms Westcoast Energy

DBRS said it confirmed the unsecured debentures, first preferred shares and commercial paper ratings of Westcoast Energy Inc. at A (low), Pfd-2 (low) and R-1 (low).

The trend is stable.

Westcoast's business risk profile remains relatively strong, and its earnings and cash flow generally benefit from low natural gas prices relative to crude oil prices, the agency said.

Westcoast's financial profile improved in recent years, largely due to de-leveraging efforts through 2007 and, until the fourth quarter of 2008, increasing earnings and cash flow from Empress, the agency noted.

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