DBRS Rates Cominar REIT’s $100 Million Series 2 Senior Unsecured Debentures at BBB (low), Stable

DBRS has today assigned a rating of BBB (low), with a Stable trend, to an additional $100 million of 4.230% Series 2 senior unsecured debentures due December 4, 2019 (the Series 2 Bonds), issued by Cominar Real Estate Investment Trust (Cominar). This issuance is a re-opening of this series of debentures. The original issuance of the Series 2 Bonds ($200 million) was rated BBB (low), with a Stable trend, by DBRS on November 30, 2012.

An aggregate of $300 million of Series 2 Bonds will be outstanding after giving effect to this offering. DBRS understands that the use of proceeds is to repay indebtedness outstanding under the 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.