DBRS Releases Report on UQAM

DBRS has today released a report on Université du Québec à Montréal (UQAM or the University) that supports the recent upgrade of the University’s rating to A (low) from BBB (high). The trend on the rating is Stable.

The rating upgrade reflects the cancelation of UQAM’s Îlot Voyageur project and the retirement of C$269 million of associated debt in November 2010, as well as the continuing recovery in the University’s operating position. As a result of these developments, UQAM’s debt per full-time equivalent is expected to drop to about C$4,945, which compares well with other DBRS-rated Canadian universities in the “A” category.

Today’s report and the August 17, 2011, press release are available at www.dbrs.com or by contacting us at info@dbrs.com.