DBRS Rates Brookfield Properties Preferred Shares New Issues at Pfd-3 (high)

DBRS has today assigned a rating of Pfd-3 (high) with a Stable trend to the $150 million 6.75% Cumulative Five-Year Reset Preference Shares, Series L, issued by Brookfield Properties Corporation (Brookfield or the Company).

The Preferred Shares will rank equally with the Company’s other Preferred Shares.

The net proceeds of the issue will be used for general corporate purposes.

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

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