Debt Ratings Will Continue
TORONTO, ONTARIO–(Marketwire – Aug. 13, 2009) – The Consumers' Waterheater Income Fund (the "Fund") (TSX:CWI.UN) today announced it has advised DBRS Limited and Standard & Poor's Rating Services (the "Rating Agencies") to discontinue the stability ratings of the Fund. For clarity, the ratings of The Consumers' Waterheater Operating Trust's publicly-traded debt will be continued without interruption. The Fund's decision to discontinue the stability ratings is due to the declining need for this information for the Fund's equity investors, changes in expectations across the income trust industry as a whole and the resulting modest cost savings the Fund can achieve as a result of the decision. "The high level of ratings achieved by the Fund on both our debt and stability are testament to the strength and financial performance of our business," said Steve Bower, CFO. "Recent discussions with major investors confirmed that the stability ratings were no longer needed by them. We will continue to obtain ratings of our publicly-traded debt." About The Consumers' Waterheater Income Fund The Fund owns a portfolio of approximately 1.4 million installed water heaters and other assets, rented primarily to residential customers in Ontario. The Fund also owns Stratacon Inc., a leading "smart" sub-metering company, with metering contracts for condominium and apartment suites in Alberta, Ontario and elsewhere in Canada. Additional information regarding the Fund, including its current Annual Information Form is available on SEDAR at www.sedar.com. Further information on the sub-meteri ng business is available at www.stratacon.ca.
For further information: The Consumers’ Waterheater Income Fund
R. Stephen Bower, FCA
CFO
905-943-6292 or 1-877-877-0142
[email protected]
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