DBRS Rates Dundee REIT’s $125 Million Series B Senior Unsecured Debentures at BBB (low)

DBRS has today assigned a rating of BBB (low), with a Stable trend, to the $125 million Floating Rate Index plus 170 basis points Series B senior unsecured debentures due January 9, 2017 (the Bonds), issued by Dundee Real Estate Investment Trust (Dundee REIT).

The Bonds are direct senior unsecured obligations of Dundee REIT and rank equally and rateably with all other unsecured and unsubordinated indebtedness of Dundee REIT. DBRS understands that the net proceeds from the offering will be used by Dundee REIT to repay existing 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.