Moody's affirms Enbridge

Moody's Investors Service said it has affirmed the ratings of Enbridge Inc., adding that the company's senior unsecured and issuer ratings are Baa1 and its preferred share rating is Baa3.

The outlook is stable.

The agency said that the rating affirmation reflects Enbridge's progress in the construction, development and financing of its many liquids pipeline development projects.

These include the Canadian portion of the $3 billion Alberta Clipper project, the C$300 million Line 4 Extension and the $2.3 billion Southern Access Expansion, all of which are expansions/extensions of the Enbridge/Lakehead System, Moody's added.

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