DBRS Rates Calloway REIT’s $150 Million Series H Senior Unsecured Debentures at BBB

DBRS has today assigned a rating of BBB, with a Stable trend, to the $150 million 4.05% Series H Senior Unsecured Debentures (the Bonds) due July 27, 2020, issued by Calloway Real Estate Investment Trust (Calloway).

The Bonds are direct senior unsecured obligations of Calloway and rank equally and rateably with all other unsecured and unsubordinated indebtedness of Calloway. The proceeds from this issue will be used for the repayment of operating lines, funding of future acquisitions and for general trust purposes.

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

The applicable methodology is Rating Real Estate Entities (April 2011), which can be found on our website under Methodologies.