10:01 AM EDT, 06/27/2024 (MT Newswires) -- Moody's said Wednesday that it assigned a "Baa3" rating to Enbridge's ( ENB ) $700 million of subordinated notes due in 2054 and $500 million of subordinated notes due in 2055.

The outlook for the company is stable.

The "Baa3" rating assigned to the subordinated notes is one notch below the company's "Baa2" senior unsecured rating and reflects the security's relative position in the company's capital structure as compared with its senior unsecured debt.

The company's shares slipped 0.4% on last look on Thursday in Canada.

Price: 48.31, Change: -0.12, Percent Change: -0.25