DBRS gives Toronto Hydro debt A (high)

DBRS said it assigned a rating of A (high) with a stable trend to Toronto Hydro Corp.’s 30-year C$200 million 4.08% series 10 senior unsecured debentures due Sept. 16, 2044. The settlement date is Sept. 16.

The debentures will rank equally (except as to sinking funds and to the extent prescribed by law) with all other unsecured and unsubordinated debt of Toronto Hydro.

Net proceeds will be used to repay certain existing debt and for general corporate purposes.

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