DBRS Rates First Capital Realty’s $175 Million Series N Senior Unsecured Debentures at BBB

DBRS has today assigned a rating of BBB, with a Stable trend, to the $175 million 4.50% Series N senior unsecured debentures due March 1, 2022 (the Bonds), issued by First Capital Realty Inc. (First Capital).

The Bonds are direct senior unsecured obligations of First Capital and rank pari passu with all other unsecured and unsubordinated indebtedness of First Capital. The proceeds will be used to fund development and redevelopment activities, acquisitions and for general corporate 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.