DBRS Rates University of Toronto’s $100 Million Series E Senior Unsecured Debentures AA

DBRS has today assigned a rating of AA with a Stable trend to the $100 million Series E unsecured debentures (the Notes) issued by the University of Toronto (the University). Maturing on December 7, 2051, the Notes are senior unsecured obligations of the University and rank pari passu with all other senior unsecured obligations. The rating is consistent with those previously assigned by DBRS on the University’s outstanding bonds. Net debt proceeds will be used mainly to finance upcoming capital projects.

This debt issue was expected by DBRS and factored into the rating of the University, as reflected in the last DBRS rating report published on November 3, 2011. The report is available at www.dbrs.com or by contacting us at info@dbrs.com.

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

The applicable methodology is Rating Canadian Universities, which can be found on our website
under Methodologies.