S&P rates Enmax debentures BBB

S&P said it assigned its BBB issue-level rating to Enmax Corp.’s proposed senior unsecured debentures and placed the debentures on CreditWatch with negative implications.

Enmax intends to use the proceeds from this transaction to partially fund its proposed acquisition of Emera Maine.

“We rate Enmax’s senior unsecured debt the same as our issuer credit rating on the company given the absence of more senior obligations in its capital structure,” S&P said in a news release.

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