Credit Rating Information

A credit rating is an evaluation of a borrower’s ability to pay interest and to repay principal. A credit rating affects the borrower’s debt servicing costs and the investor’s rate of return since an investor will demand a higher interest rate on a more risky, lower-rated security.

Moody's Investors Service Long Term Short Term Outlook Aaa P-1 Stable

View credit report as at August 2007

Standard and Poor's Long Term Short Term Outlook AAA A-1+ Stable

View credit report as at May 2007

Dominion Bond Rating Service Long Term Short Term Outlook AA (high) R-1 (high) Stable

View credit report as at May 2007 View upgrade to Short-Term Ratings as at October 2006