DBRS Rates Cominar REIT’s $250 Million Series 5 Senior Unsecured Debentures at BBB (low), Stable

DBRS has today assigned a rating of BBB (low), with a Stable trend, to the $250 million Floating Rate Index plus 205 bps Series 5 senior unsecured debentures due October 9, 2015 (the Bonds), issued by Cominar Real Estate Investment Trust (Cominar REIT).

The Bonds are direct senior unsecured obligations of Cominar REIT and rank equally and ratably with all other unsecured and unsubordinated indebtedness of Cominar REIT. DBRS understands that the net proceeds from the offering will be used by Cominar REIT to repay amounts outstanding under its credit facility existing and for general trust purposes.

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

The applicable methodology is Rating Entities in the Real Estate Industry (October 2013), which can be found on our website under Methodologies.