DBRS Rates Choice Properties REIT’s $450 Million Series C and D Senior Unsecured Debentures at BBB

DBRS has today assigned a rating of BBB with a Stable trend to Choice Properties Real Estate Investment Trust’s (CP REIT or the REIT) $450 million senior unsecured debentures (the Debentures) issuance, which includes:

(1) Seven-year, $250 million 3.498% Series C Debentures, due February 8, 2021
(2) Ten-year, $200 million 4.293% Series D Debentures, due February 8, 2024

The Notes are direct senior unsecured obligations of CP REIT and rank equally and rateably with all other unsecured and unsubordinated indebtedness of the REIT.

DBRS understands that the net proceeds from the offering will be applied either directly or indirectly toward repayment of existing indebtedness and for general business 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.