DBRS Rates H&R REIT’s $60 Million Series I Senior Unsecured Debentures at BBB

DBRS has today assigned a rating of BBB, with a Stable trend, to the $60 million floating rate index plus 165 bps Series I senior unsecured debentures due January 23, 2017 (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 repay existing indebtedness 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.