DBRS Discontinues the Short-Term Ratings on OMERS Realty Corporation and Borealis Finance Trust

DBRS has today discontinued the R-1 (high) Commercial Paper ratings of OMERS Realty Corporation and Borealis Finance Trust following the completion of the consolidation of both programs into the commercial paper program of OMERS Finance Trust, which is also rated R-1 (high).

OMERS Finance Trust is unconditionally guaranteed by its parent, OMERS Administration Corporation (OMERS), and was created earlier this year to act as the principal financing vehicle of OMERS. The ratings on OMERS and its related guaranteed securities remain unchanged.

Note:
DBRS ratings on public pension funds and pension fund asset managers are primarily based on the funding status, membership fundamentals and cash flow outlook of the public pension plan or pension plan depositors, the net asset and liquidity position of the fund in relation to outstanding recourse debt, the fund’s investment track record and portfolio management strategy as well as the financial strength of plan contributors.