DBRS Upgrades the Ratings of OMERS Realty Corporation (Centennial Place) to AA (low), Stable Trends

DBRS has today upgraded the ratings on the Centennial Place 3.666% Senior Series A Secured Bonds due 2022 and the Centennial Place 3.04% Senior Series B Secured Bonds due 2017 (collectively, the Bonds) of OMERS Realty Corporation (the Issuer or ORC), which are secured by Centennial Place (the Complex), to AA (low) from A (high), with Stable trends. The Bonds are direct obligations of ORC, despite the fact that recourse for the Bonds is limited to the Complex and there is no recourse to ORC.

The ratings upgrade is based on DBRS’s newly assigned Issuer Rating of AA (low) with a Stable trend on OMERS Realty Corporation (see the related press release dated May 15, 2013).

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, which can be found on our website under Methodologies.