DBRS Rates Crombie’s $100 Million Series B Senior Unsecured Debentures at BBB (low)

DBRS has today assigned a rating of BBB (low), with a Stable trend, to the $100 million 3.962% Series B Senior Unsecured Debentures due June 1, 2021 (the Bonds), issued by Crombie Real Estate Investment Trust (Crombie or the Trust).

The Bonds are direct senior unsecured obligations of Crombie and rank equally and rateably with all other unsecured and unsubordinated indebtedness of the Trust. Proceeds from the offering are expected to be used for the repayment of existing indebtedness and for general corporate purposes.

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

The applicable methodology is Rating Real Estate Entities (October 2013), which can be found on our website under Methodologies.

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