Dominion Bond Rating Services (DBRS) Confirms STA-2 (middle) Stability Rating and AAA Debt Rating
TORONTO, ONTARIO–(Marketwire – March 10, 2008) – NOT FOR RELEASE IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES. The Consumers' Waterheater Income Fund (the "Fund")(TSX:CWI.UN) announced that DBRS has confirmed its Stability Rating of STA-2 (middle) for the Fund and the Debt Rating for The Consumers' Waterheater Operating Trust ("Trust") at AAA with a stable trend. "The confirmed DBRS 'AAA' credit rating allows us to focus on the refinancing of our bridge credit facility in the coming months," said Steve Bower, CFO. "While the previous review by DBRS was not precipitated by any change in the Fund's operating performance or underlying asset quality, we are pleased by the ratings confirmation. This is also in line with Standard and Poors Ratings Services ("S&P") rating of AAA announced December 20, 2007." About The Consumers' Waterheater Income Fund The Consumers' Waterheater Income Fund owns a portfolio of over 1.4 million installed water heaters and other assets, leased primarily to residential customers in Ontario. The asset base has been generating stable and growing cash flows since its inception in the late 1950s. Additional information regarding The Consumers' Waterheater Income Fund, including its current Annual Information Form is available on SEDAR at www.sedar.com.
For further information: The Consumers’ Waterheater Income Fund