North West Redwater Partnership -- Moody's rates North West Redwater's new senior secured bonds Baa1; outlook is negative

Toronto, June 08, 2016 -- Moody's Investors Service, ("Moody's") has assigned a Baa1 rating to the proposed CAD 500 million senior secured bonds due in 2033 (Series H) and to the proposed CAD 500 million senior secured bonds due in 2039 (Series I) issued by North West Redwater Partnership (NWR) and NWR Financing Company Ltd. (NWR Finco, a wholly-owned subsidiary of NWR) as co-issuers. The co-issuers will be jointly and severally responsible for the indebtedness related to the bonds being issued. As part of this financing, NWR will re-open the senior secured bonds Series G due in 2037 (rated Baa1) and increase the amount by CAD 200 million to CAD 500 million from CAD 300 million. NWR's rating outlook is negative.

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