DBRS Rates RioCan’s $150 Million Series U Senior Unsecured Debentures at BBB (high)

DBRS has today assigned a rating of BBB (high), with a Stable trend, to the $150 million 3.62% Series U senior unsecured debentures due June 1, 2020 (the Bonds), issued by RioCan Real Estate Investment Trust (RioCan).

The Bonds are direct senior unsecured obligations of RioCan and rank equally and rateably with all other unsecured and unsubordinated indebtedness of RioCan. The net proceeds will be used by RioCan to fund development, to acquire property, to repay certain indebtedness and for general trust purposes.

Note: 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 (October 2013), which can be found on our website under Methodologies.