DBRS Discontinues Rating for ING Summit’s Senior Unsecured Debentures

DBRS has today discontinued the rating of the Senior Unsecured Debentures of ING Summit Industrial Fund LP (ING Summit) as the outstanding debentures were redeemed on December 1, 2010.

The redemption of the Series A and Series B Senior Unsecured Debentures follows the completion of the previously announced sale by ING Industrial Fund and ING Groep N.V. of their respective 50% partnership interests in ING Summit to Niagara Acquisition LP, a joint venture between KingSett Capital and its affiliates and certain clients of Alberta Investment Management Corp. that was established to purchase ING Summit. As part of this transaction, all of the public debt was retired and the new company is now privately held.

Note:
The applicable methodology is Rating Real Estate, which can be found on our website under Methodologies.