DBRS Rates H&R REIT’s $230 Million Senior Unsecured Debentures at BBB

DBRS has today assigned a rating of BBB, with a Stable trend, to the $115 million 5.196% Series A and the $115 million 5.902% Series B senior unsecured debentures due February 3, 2015, and February 3, 2017 (collectively, the Bonds), issued by H&R Real Estate Investment Trust (H&R or the Trust).

The Bonds are direct senior unsecured obligations of H&R and rank pari passu with all other unsecured and unsubordinated indebtedness of the Trust. DBRS notes that the proceeds will be used to repurchase all $200 million principal amount of debentures owned by Fairfax Financial Holdings Limited and its affiliates.

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 (Real Estate) rating.