DBRS Morningstar Assigns Rating of BBB to Cenovus Energy Inc.'s USD 1,250 Million Unsecured Notes.

ENPNewswire-September 14, 2021--DBRS Morningstar Assigns Rating of BBB to Cenovus Energy Inc.'s USD 1,250 Million Unsecured Notes

(C)2021 ENPublishing - http://www.enpublishing.co.uk

Release date- 13092021 - DBRS Limited (DBRS Morningstar) assigned a rating of BBB with a Stable trend to Cenovus Energy Inc.'s (the Issuer) USD 500 million 2.650% Unsecured Notes, due January 2032, and USD 750 million 3.750% Unsecured Notes, due February 2052 (together, the Notes).

The rating assigned to the Notes is based on the ratings of other already-outstanding series of the notes of the Issuer.

The Issuer intends to use the net proceeds from the issue of the Notes to partially finance the repurchase of existing unsecured notes and for general corporate purposes.

A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework can be found in the DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings at https://www.dbrsmorningstar.com/research/373262.

Notes:

The principal methodologies are Rating Companies in the Oil and Gas and Oilfield Services Industries (August 16, 2021; https://www.dbrsmorningstar.com/research/383104) and DBRS Morningstar Criteria: Preferred Share and Hybrid Security Criteria for Corporate Issuers (November 2, 2020...

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