DBRS Rates Calloway’s $150 Million Series L Senior Unsecured Debentures at BBB

DBRS has today assigned a rating of BBB, with a Stable trend, to the $150 million 3.749% Series L senior unsecured debentures due February 11, 2021 (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 Entities in the Real Estate Industry (October 2013), which can be found on our website under Methodologies.