DBRS Rates CREIT’s $125 Million Series A Senior Unsecured Debentures at BBB

DBRS has today assigned a rating of BBB, with a Stable trend, to the $125 million 3.676% Series A Senior Unsecured Debentures due July 24, 2018 (the Bonds), issued by Canadian Real Estate Investment Trust (CREIT).

The Bonds are direct senior unsecured obligations of CREIT and rank equally and rateably with all other unsecured and unsubordinated indebtedness of CREIT. DBRS understands that the net proceeds from the offering will be used by CREIT to repay outstanding indebtedness under its credit facility.

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.