DBRS: EnerCare notes BBB

DBRS said it has assigned a provisional rating of BBB (high) with a stable trend to the C$250 million of 4.3% series 2012-1 senior unsecured notes issuance of EnerCare Solutions Inc.

The notes mature on Nov. 30, 2017, and the transaction is expected to settle on Nov. 21.

DBRS added that the net proceeds from the sale of the above-noted securities will be used primarily to redeem the C$240 million bonds maturing March 15, 2013 and for general corporate purposes.

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