DBRS Discontinues Ratings on Place Laurier Secured Debentures

DBRS has today discontinued the ratings on the 10.55% Series A Secured Debentures, due August 10, 2014, and 7.37% Series D Secured Debentures, due August 10, 2014 (collectively, the Bonds), of Ivanhoe Cambridge II Inc. and 7503024 Canada Inc., secured by Place Laurier. 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 August 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.