DBRS Rates RioCan REIT’s $225 Million Series O Senior Unsecured Debentures at BBB (high)

DBRS has today assigned a rating of BBB (high), with a Stable trend, to the $225 million 4.499% Series O senior unsecured debentures due January 21, 2016 (the Bonds), issued by RioCan Real Estate Investment Trust (RioCan).

The Bonds are direct senior unsecured obligations of RioCan and rank equally and rateably with all other unsecured and unsubordinated indebtedness of RioCan. RioCan intends to use a portion of the net proceeds from the Bonds for the redemption of its outstanding 8.33% Series L senior unsecured debentures.

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.