DBRS Releases Reports on Primaris Retail REIT

DBRS has today released debt and stability reports for Primaris Retail Real Estate Investment Trust (Primaris or the Trust) that provide further detail on the recent confirmation of the ratings.

The action follows the announcement of Primaris’ proposed acquisitions of five enclosed shopping centres from Ivanhoe Cambridge for $572 million. Primaris intends to buy a 100% interest in Oakville Place, Burlington Mall, Tecumseh Mall, St Albert Centre and Place Vertu.

The rating confirmation takes into consideration that, from a financial risk perspective, the acquisition is expected to have a neutral impact on the Trust’s balance sheet ratios.

Today’s reports and the May 26, 2011, press release, are available at www.dbrs.com.