{"id":28235,"date":"2015-03-12T19:11:11","date_gmt":"2015-03-13T00:11:11","guid":{"rendered":"http:\/\/prefblog.com\/?p=28235"},"modified":"2015-03-12T19:11:11","modified_gmt":"2015-03-13T00:11:11","slug":"ema-removed-from-review-developing-by-dbrs","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=28235","title":{"rendered":"EMA Removed from Review Developing by DBRS"},"content":{"rendered":"<p>DBRS <a href=http:\/\/dbrs.com\/research\/277772\/dbrs-removes-emera-inc-from-under-review-with-developing-implications.html\">has announced<\/a> that it:<\/p>\n<blockquote><p>has today removed Emera Inc.\u2019s (Emera or the Company) Issuer Rating and the ratings of its Medium-Term Notes and Cumulative Preferred Shares from Under Review with Developing Implications. DBRS has also confirmed Emera\u2019s Issuer Rating and Medium-Term Notes rating at BBB (high) and the Cumulative Preferred Shares rating at Pfd-3 (high), all with Stable trends. The rating actions follow DBRS\u2019s review of Emera\u2019s funding strategy for its medium-term growth plans, the repayment of the USD 350 million non-revolving credit facility used to partially finance the acquisition of the merchant New England Gas Generation assets, and the closing of a $250 million non-revolving credit facility by Emera Brunswick Pipeline Company (Emera Brunswick) in February 2015. Pro forma these transactions, Emera\u2019s non-consolidated debt-to-capital has now decreased to below 30%. The rating actions also reflect the Company\u2019s reasonable business risk profile for the current rating category and DBRS\u2019s expectation that Emera will maintain its deconsolidated debt-to-capital metric below the 30% threshold.<\/p><\/blockquote>\n<p>It&#8217;s been quite a while! The <a href=\"http:\/\/prefblog.com\/?p=22897\">imposition of the Review<\/a> was reported on PrefBlog in August 2013.<\/p>\n<p>EMA has three preferred share issues outstanding: EMA.PR.A, EMA.PR.C and EMA.PR.F (FixedResetS) and EMA.PR.E (PerpetualDiscount). All are tracked by HIMIPref\u2122; all are relegated to the Scraps index on credit concerns.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DBRS<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-28235","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/28235","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28235"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/28235\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}