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

DBRS has today assigned a provisional rating of BBB with a Stable trend to the $150 million 3.73% Series M Senior Unsecured Debentures due July 22, 2022 (the Bonds), issued by Calloway Real Estate Investment Trust (Calloway).

The Bonds are direct unsecured obligations of Calloway and rank equally and rateably with all other present and future unsecured and unsubordinated indebtedness of Calloway. The net proceeds from the offering will be used for future property acquisitions, repayment of debt maturing in 2014 and for general trust purposes.

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

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

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