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S&P gives TransCanada PipeLines notes BBB+
S&P said it assigned its BBB+ issue-level rating to TransCanada PipeLines Ltd.'s proposed $1 billion senior notes due 2049.
The company intends to use net proceeds to repay debt and for general corporate purposes.
In addition, the company issued a $400 million add-on to its notes maturing in 2028, bringing the total to $1.4 billion. The add-on does not affect the existing BBB+ rating on the bonds, S&P said.
The agency said the BBB+ long-term issuer credit rating and stable outlook on the company are unchanged.
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