DBRS rates Newfoundland Power bonds A

DBRS said it has assigned a rating of A with a stable trend to Newfoundland Power Inc.'s issuance of C$70 million of 4.805% series AN first mortgage sinking fund bonds maturing on Nov. 9, 2043.

Net proceeds from the sale of the bonds will be used to reduce short-term bank indebtedness incurred principally to fund capital expenditures and for general corporate purposes, the agency stated.

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