11:55 AM EDT, 04/03/2024 (MT Newswires) -- Fitch Ratings said Tuesday that it has assigned a BBB+ rating to Enbridge's ( ENB ) offering of senior unsecured notes.

The company plans to use the proceeds for repayment of existing debt, capital expenditures 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 the company's "very large size and the diversity, stability and visibility of its cash flows," the rating agency noted.

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