DBRS Discontinues Rating on STRATA Income Fund Preferred Securities

DBRS has today discontinued its rating on the Preferred Securities issued by STRATA Income Fund (STRATA). The Preferred Securities issued by STRATA had been scheduled for final redemption on December 31, 2009. On October 14, 2009, Middlefield Group (the Promoter) announced its intention to provide STRATA’s preferred securityholders and capital unitholders with an opportunity to continue to invest in the underlying fund in which STRATA has invested since its inception (COMPASS).

Holders of the Preferred Securities were given the option of being paid the initial principal amount of $10 per security in cash (along with accrued interest) on November 30, 2009, or in COMPASS units on December 14, 2009, or a combination of cash and units.

All of the Preferred Securities issued by STRATA have been redeemed. As a result, DBRS has discontinued its rating on the Preferred Securities.

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

The applicable methodology is Rating Canadian Split Share Companies and Trusts, which can be found on our website under Methodologies.

This is a Structured Finance rating.