DBRS Notes $25 Million Increase in First Capital Realty’s BBB-Rated Issue of Senior Unsecured Debentures

DBRS notes that First Capital Realty Inc. (First Capital) has announced a $25 million increase in its issue of 5.95% Series G senior unsecured debentures due June 1, 2015 (the Bonds). DBRS today assigned a rating of BBB, with a Stable trend, to the Bonds, which are now in the amount of $125 million.

The Bonds are direct senior unsecured obligations of First Capital and rank equally and rateably with all other unsecured and unsubordinated indebtedness of First Capital. The proceeds will be used to pay down amounts drawn on First Capital’s revolving credit facilities and for general corporate purposes.

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.