DBRS Rates Artis REIT’s $75 Million Reopening of Series A Senior Unsecured Debentures at BBB (low), Stable

DBRS has today assigned a rating of BBB (low), with a Stable trend, to Artis Real Estate Investment Trust’s (Artis) $75 million reopening of Series A Senior Unsecured Debentures, due March 27, 2019 (the Series A Bonds). The original issuance ($125 million) was rated by DBRS at BBB (low) with a Stable trend on March 24, 2014. DBRS notes that this reopening of Series A Bonds does not change the previously assigned rating.

An aggregate of $200 million of the Series A Bonds will be outstanding after giving effect to this offering. The Series A Bonds will rank equally and rateably with all other unsecured and unsubordinated indebtedness of Artis. The net proceeds from this issuance will be primarily used for debt repayment 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.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.