DBRS confirms Enbridge

DBRS said it confirmed the ratings on the medium-term notes and unsecured debentures and cumulative redeemable preferred shares of Enbridge Inc. at A and Pfd-2 (low), respectively, with negative trends and the commercial paper rating at R-1 (low) with a stable trend.

The rating actions follow the announcement that Enbridge and Enbridge Energy Partners, LP have concluded a joint funding agreement under which Enbridge will effectively fund two-thirds of the $1.2 billion cost of the U.S. segment of the Alberta Clipper crude oil pipeline project, the agency said.

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