DBRS confirms Enbridge Income

DBRS said it confirmed the senior unsecured long-term notes rating of Enbridge Income Fund at BBB (high) with a stable trend.

The confirmation reflects strong cash distributions from Alliance Canada and Saskatchewan Pipeline System, DBRS said, and reasonable pro forma credit metrics as a result of the acquisition of renewable energy assets in Ontario from Enbridge Inc.

Cash flow available for distribution at Alliance Canada has been relatively predictable, providing strong distributions to the fund to service its debt, the agency said.

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