11:52 AM EDT, 05/31/2024 (MT Newswires) -- Morningstar DBRS on Thursday assigned a credit rating of BBB (high) with a stable trend to Tourmaline Oil's (TOU.TO) $250 million 4.856% senior unsecured notes, Series 3 due May 2027.

Tourmaline plans to use the net proceeds to refinance its existing debts and for general corporate purposes.

The credit rating assigned to this newly issued debt instrument is based on the rating of an already-outstanding debt series of the above-mentioned debt instruments, the rating agency said.

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