09:57 AM EDT, 06/25/2024 (MT Newswires) -- Fitch Ratings on Monday assigned a "BBB-" rating to Enbridge's ( ENB ) offering of USD-denominated junior subordinated notes.

The company plans to use the proceeds for repayment of existing debt, capex, and for general corporate purposes. The company's long-term issuer default rating is "BBB+" with a stable rating outlook.

The ratings are based on Enbridge's ( ENB ) very large size and the diversity, stability, and visibility of its cash flows, the rating agency said.

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