DBRS Discontinues Rating on Market Mall First Mortgage Bonds

DBRS has today discontinued the rating on the 6.64% FM Bonds, Series A, due 02/2014 (the Bonds) of Ivanhoe Cambridge I Inc., Ivanhoe Cambridge II Inc. and The Cadillac Fairview Corporation Ltd., secured by Market Mall (Cadillac & Cambridge). The previous A (high) rating was placed Under Review with Developing Implications on October 3, 2013, due to a material change in the “Rating Entities in the Real Estate Industry” methodology. This rating has been discontinued without resolving the Under Review status as the debt matured and was repaid on February 11, 2014, prior to the completion of DBRS’s review.

Notes:
The applicable methodology is Rating Real Estate Entities, which can be found on our website under Methodologies.