Moody's assigns Lower Mattagami bond A2

Moody's Investors Service said it assigned an A2 rating to the C$200 million senior secured bond expected to be issued by Lower Mattagami Energy LP.

The outlook is stable.

The proceeds of the bond issue will be used to repay its outstanding commercial paper as it matures, with any balance being used to fund project costs.

Moody's said the A2 rating and stable outlook take into account that the redevelopment, expansion and financing of the four hydroelectric generating stations owned by Lower Mattagami Energy and Lower Mattagami LP are progressing well.

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