DBRS Rates Calloway’s $100 Million Series K Senior Unsecured Debentures at BBB

DBRS has today assigned a rating of BBB, with a Stable trend, to the $100 million Floating Rate Index plus 138 bps Series K senior unsecured debentures due October 16, 2015 (the Bonds), issued by Calloway Real Estate Investment Trust (Calloway).

The Bonds are direct senior unsecured obligations of Calloway and rank equally and rateably with all other unsecured and unsubordinated indebtedness of Calloway. The net proceeds from the offering will be used for the repayment of 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.