The Yukon government’s strong credit rating will be beneficial to a number of Yukon Energy projects, including Mayo B.
Yesterday the government announced that Standard and Poors, a leading global credit rating agency, had set the government’s credit rating at AA. AAA is the highest credit rating and D is the lowest.
Yukon Energy’s parent company, the Yukon Development Corporation (YDC), intends to complete a $100 million bond financing in the near future. The money will be used to help finance Mayo B, Stage 2 of the Carmacks to Stewart transmission line, and other potential future projects. The financing will be managed by TD Securities.
“This strong rating means YDC will be able to negotiate a very good interest rate for the bond,” Yukon Energy president David Morrison said. “Ultimately, that will mean savings for Yukoners.”
A portion of the bond offering will be available in Yukon to members of the public through a local financial institution. That means Yukoners will be able to work with their financial advisors and local investment management offices to purchase the bonds when they become available.
Contact:
Janet Patterson
Supervisor, Communications
Yukon Energy Corporation
(867) 393-5333
(867) 333-5874
janet.patterson@yec.yk.ca
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