DBRS Discontinues Rating on Galeries D’Anjou Shopping Centre First Mortgage Bonds

DBRS has today discontinued the rating on the First Mortgage Bonds, due 2012 (the Bonds) of The Cadillac Fairview Corporation Ltd. and Ivanhoe Cambridge secured by Galeries D’Anjou Shopping Centre, as the outstanding Bonds were repaid on November 1, 2012.

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.

DBRS ratings for single-purpose real estate credits include consideration for the asset’s position within the market, the lease profiles, the valuation, the cash flow over the term of the issuance, the refinance position of the asset and the structure of the transaction, including the organization of the Issuer. For more information on the property underwriting, DSCR and LTV guidelines that DBRS uses, please see the CMBS Rating Methodology.