{"id":50605,"date":"2019-08-22T21:44:00","date_gmt":"2019-08-23T01:44:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=50605"},"modified":"2025-11-11T21:46:00","modified_gmt":"2025-11-12T02:46:00","slug":"kml-pr-a-kml-pr-c-on-review-developing-by-dbrs","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=50605","title":{"rendered":"KML.PR.A & KML.PR.C On Review-Developing by DBRS"},"content":{"rendered":"

DBRS has announced<\/a>:<\/p>\n

\n

DBRS Limited (DBRS) placed the following ratings Under Review with Developing Implications:<\/p>\n

— Kinder Morgan Canada Limited (KML), Preferred Shares \u2013 Cumulative (the Preferred Shares) rating of Pfd-3
\n— Kinder Morgan Cochin ULC (KMU), Issuer Rating of BBB<\/p>\n

…<\/b>
\nKMU\u2019s Issuer Rating is based on its strong financial profile and expectation that leverage will remain reasonable for the current rating. The Preferred Shares rating of KML, which owns 30% of KMU and holds no other material assets, is based on the strength of KMU, the structural support in place for the benefit of the holders of the Preferred Shares (please see DBRS\u2019s report on Kinder Morgan Canada Limited and Kinder Morgan Cochin ULC, dated March 25, 2019, for details) and the expectation that no debt will be issued by KML. DBRS expects to resolve the Under Review status once additional information becomes available with respect to Pembina\u2019s intention for the Preferred Shares and the proposed capital structure at KMU post completion of the Acquisition.<\/p>\n<\/blockquote>\n

This follows yesterday’s news that PPL To Acquire KML Under Proposed Plan of Arrangement<\/a>.<\/p>\n

KML.PR.A is a FixedReset 5.25%+365M525 that commenced trading 2017-8-15<\/a> after being announced 2017-8-3<\/a>. It is tracked by HIMIPref™ but relegated to the Scraps-FixedReset Discount subindex on credit concerns.<\/p>\n

KML.PR.C is a FixedReset, 5.20%+351M520, that commenced trading 2017-12-15<\/a> after being announced 2017-12-6<\/a>. It is tracked by HIMIPref™ but relegated to the Scraps-FixedReset Discount subindex on credit concerns.<\/p>\n","protected":false},"excerpt":{"rendered":"

DBRS has announced: DBRS Limited (DBRS) placed the following ratings Under Review with Developing Implications: — Kinder Morgan Canada Limited (KML), Preferred Shares \u2013 Cumulative (the Preferred Shares) rating of Pfd-3 — Kinder Morgan Cochin …<\/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-50605","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50605","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=50605"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50605\/revisions"}],"predecessor-version":[{"id":50606,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50605\/revisions\/50606"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}