DBRS Notes $15 Million Increase in Calloway’s BBB-Rated Issue of Senior Unsecured Debentures

DBRS notes that Calloway Real Estate Investment Trust (Calloway or the Trust) has announced a $15 million increase in its issue of 4.7% Series G senior unsecured debentures due August 22, 2018 (the Bonds). On August 16, 2011, DBRS assigned a rating of BBB, with a Stable trend, to the Bonds, which are now in the amount of $90 million.

The Bonds are direct senior unsecured obligations of Calloway and rank pari passu with all other unsecured and unsubordinated indebtedness of the Trust.

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.