DBRS Rates H&R REIT’s $175 Million Series G Senior Unsecured Debentures at BBB

DBRS has today assigned a rating of BBB, with a Stable trend, to the $175 million 3.344% Series G senior unsecured debentures due June 20, 2018 (the Bonds), issued by H&R Real Estate Investment Trust (H&R REIT).

The Bonds are direct senior unsecured obligations of H&R REIT and rank equally and rateably with all other unsecured and unsubordinated indebtedness of H&R REIT. DBRS understands that the net proceeds from the offering will be used by H&R REIT to fund future property acquisitions and development, to repay outstanding indebtedness and for general trust purposes.

Note:
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.