DBRS Rates Calloway REIT’s $75 Million Series D Senior Unsecured Debentures at BBB

DBRS has today assigned a rating of BBB, with a Stable trend, to the $75 million 7.95% Series D Senior Unsecured Debentures due June 30, 2014 (the Bonds), issued by Calloway Real Estate Investment Trust (Calloway or the Company).

The Bonds are direct senior unsecured obligations of Calloway and rank equally and rateably with all other unsecured and unsubordinated indebtedness of Calloway. The proceeds will be used to pay down amounts outstanding under the Company’s current credit facilities.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodology is Rating Real Estate, which can be found on our website under Methodologies.

This is a Corporate rating.