DBRS Discontinues Rating on Rideau Centre First Mortgage Bonds

DBRS has today discontinued the rating on the 6.75% First Mortgage Bonds, Series A, due March 2014 and on the 7.35% First Mortgage Bonds, Series B, due March 2014 (together, the Bonds) of Viking Rideau Corporation, secured by Rideau Centre. The previous A (high) ratings were 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. These ratings have been discontinued without resolving the Under Review status as the debt matured and was repaid on March 10, 2014, prior to the completion of DBRS’s review.

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