DBRS Upgrades and Discontinues Rating on Primaris Retail Real Estate Investment

DBRS has today upgraded the Issuer Rating of Primaris Retail Real Estate Investment Trust (Primaris or the Trust) to BBB with a Stable trend from BBB (low). The rating has been removed from Under Review with Positive Implications, where it was placed on January 17, 2013, following the successful acquisition of Primaris by H&R Real Estate Investment Trust (H&R).

Concurrently, DBRS has discontinued the Issuer Rating of Primaris reflecting the acquisition of Primaris by H&R. As a result, Primaris’ Issuer Rating is no longer stand-alone.

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

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com.

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