TC Energy Corporation & TransCanada PipeLines Limited: Rating Report
On June 4, 2021, DBRS Limited (DBRS Morningstar) confirmed TC Energy Corporation's (TCC or the Company) Preferred Shares – Cumulative rating at Pfd-2 (low). DBRS Morningstar also confirmed TransCanada PipeLines Limited's (TCPL; TCC's wholly owned subsidiary) Issuer Rating and Unsecured Debentures & Notes rating at A (low), Junior Subordinated Notes at BBB, and Commercial Paper (CP) rating at R-1 (low). All trends are Stable.
TransCanada is an energy company. Co. operates three business segments: natural gas pipeline, which transports natural gas across Canada, the U.S. and Mexico, and has regulated natural gas storage facilities in Michigan with a total capacity of 250 billion cubic ft.; liquids pipelines, which consists of wholly-owned and operated crude oil pipeline systems that connects Alberta and U.S. crude oil supplies to U.S. refining markets, as well as connecting U.S. crude oil supplies from the Cushing, OK hub to refining markets in the U.S Gulf Coast; and energy, which includes a portfolio of power generation assets in Canada and the U.S., and unregulated natural gas storage assets in Alberta.
TransGlobe Energy is engaged in oil and gas exploration, development and production and the acquisition of properties within the Arab Republic of Egypt and the Republic of Yemen.
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