DBRS Rates Calloway’s $2 Billion Shelf Program at BBB

DBRS has today assigned a rating of BBB with a Stable trend to Calloway Real Estate Investment Trust’s (Calloway or the Trust) $2 billion shelf program as per its recently filed preliminary short-form base shelf prospectus dated October 1, 2009.

As per the Trust’s shelf filing, any senior unsecured debenture issuances under this program will be unsecured and will rank pari passu with all other unsecured and unsubordinated indebtedness incurred by Calloway.

As ratings are subject to change, subsequent confirmation of Calloway’s ratings will be provided by DBRS as any senior unsecured debentures are issued under this program.

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.