DBRS Rates First Capital Realty’s $125 Million Series H Senior Unsecured Debentures at BBB

DBRS has assigned a rating of BBB, with a Stable trend, to the $125 million 5.85% Series H senior unsecured debentures due January 31, 2017 (the Bonds), issued by First Capital Realty Inc. (First Capital).

The Bonds are direct senior unsecured obligations of First Capital and rank pari passu 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.

Note:
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 (Real Estate) rating.