DBRS reviews Emera

DBRS said it placed the BBB (high) issuer rating, BBB (high) medium-term note and Pfd-3 (high) preferred shares – cumulative ratings of Emera Inc. under review with developing implications.

These actions follow the announcement that the company agreed to acquire TECO Energy Inc. for a total consideration of about $10.4 billion including assumption of $3.9 billion of debt.

The rating actions reflect DBRS’ view that the acquisition would have a relatively neutral impact on Emera’s business risk assessment (BRA) while the impact on the financial risk assessment (FRA) is uncertain since the financing plan has not been finalized.

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