DBRS Rates Choice Properties REIT’s $250 Million Series E Senior Unsecured Debentures at BBB, Stable

DBRS Limited (DBRS) has today assigned a rating of BBB with a Stable trend to $250 million Series E Senior Unsecured Debentures (Series E Bonds) due September 14, 2020, issued by Choice Properties Real Estate Investment Trust (CP REIT).

The Series E Bonds are direct senior unsecured obligations of CP REIT and rank equally and rateably with all the existing Senior Unsecured Debentures and all other unsecured and unsubordinated indebtedness of CP REIT. DBRS understands that the net proceeds from the offering will be used for repayment of existing indebtedness and for general trust purposes.

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

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.