DBRS Rates Cominar’s $125 Million Senior Unsecured Debentures at BBB (low)

DBRS has today assigned a rating of BBB (low), with a Stable trend, to the $125 million 4.274% Series 1 senior unsecured debentures due June 15, 2017 (the Bonds), issued by Cominar Real Estate Investment Trust (Cominar).

The Bonds are direct senior unsecured obligations of Cominar and rank equally and rateably with all other unsecured and unsubordinated indebtedness of Cominar. Cominar intends to use the proceeds from the Bonds to repay indebtedness outstanding under its credit facility and for general trust purposes.

Note:
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.