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Published on 2/27/2017 in the Prospect News Canadian Bonds Daily and Prospect News Investment Grade Daily.

S&P upgrades Westcoast Energy

S&P said it raised its ratings on Westcoast Energy Inc., including its long-term corporate credit and senior unsecured debt ratings on the company to BBB+ from BBB.

S&P said it removed the ratings from CreditWatch, where they were placed with positive implications Sept. 6, 2016. The outlook is stable.

Enbridge Inc. has announced its merger with Spectra Energy Corp., under which Spectra and all its subsidiaries, including Westcoast, will merge with Enbridge at the closing of this share-exchange transaction.

“We view Westcoast as core to ultimate parent Enbridge,” said S&P credit analyst Gerry Hannochko in a news release.


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