DBRS Rates Calloway REIT’s $75 Million Series G Senior Unsecured Debentures at BBB

DBRS has today assigned a rating of BBB, with a Stable trend, to the $75 million 4.70% Series G senior unsecured debentures due August 22, 2018 (the Bonds), issued by Calloway Real Estate Investment Trust (Calloway).

The Bonds are direct senior unsecured obligations of Calloway and rank equally and rateably with all other unsecured and unsubordinated indebtedness of Calloway. The proceeds will be used to partially finance the $140 million acquisition of three Wal-Mart-anchored shopping centres located in Ontario and for general trust purposes.

Notes:
All figures are in Canadian dollars unless otherwise noted.

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