S&P rates Keyera notes BB

S&P said it assigned a BB rating to Keyera Corp.’s C$350 million of 5.95% fixed-to-fixed-rate subordinated notes, series 2021-A due March 10, 2081.

Proceeds will be used to fund capital expenditures, repay some of the borrowings under the company's credit facilities, and for general corporate purposes.

Concurrently, the agency affirmed the BBB- issuer credit rating on Keyera and BBB- issue-level rating on its senior unsecured debt.

The outlook is stable.

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