DBRS Rates RioCan’s $300 Million Series W Senior Unsecured Debentures at BBB (high), Stable

DBRS Limited (DBRS) has today assigned a rating of BBB (high) with a Stable trend to the $300 million 3.287% Series W Senior Unsecured Debentures due February 12, 2024 (Series W Bonds), issued by RioCan Real Estate Investment Trust (RioCan).

The Series W Bonds are direct senior unsecured obligations of RioCan and rank equally and rateably with all other unsecured and unsubordinated indebtedness of RioCan. RioCan will use a portion of the net proceeds to repay indebtedness, including the redemption of its $225 million Series O Senior Unsecured Debentures due January 21, 2016, and the remaining balance for general trust purposes.

Note: 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.