DBRS rates Hydro-Québec debentures A(high)

DBRS said it assigned a rating of A(high) with a stable trend to Hydro-Québec's C$500 million of 5% series JN debentures due Feb. 15, 2050.

This is an additional tranche of series JN debentures as tranches totaling $3.5 billion were previously issued in 2009 and 2010, DBRS said.

The debentures will rank equally with all other debt securities of Hydro-Québec. The proceeds will be used for capital expenditures, repayment of outstanding debt or for general corporate purposes, the agency said.

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