DBRS Rates First Capital Realty’s $150 Million Series R Senior Unsecured Debentures at BBB (high), Stable

DBRS has today assigned a rating of BBB (high), with a Stable trend, to the $150 million 4.79% Series R Senior Unsecured Debentures due August 30, 2024 (the Bonds), issued by First Capital Realty Inc. (First Capital).

The Bonds are direct senior unsecured obligations of First Capital and rank pari passu with all other unsecured and unsubordinated indebtedness of First Capital. The proceeds will be used to fund development and redevelopment activities and acquisitions, as well as for general corporate purposes.

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

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

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