DBRS Rates Crombie’s $125 Million Series C Senior Unsecured Debentures at BBB (low), Stable

DBRS Limited (DBRS) has today assigned a rating of BBB (low) with a Stable trend to the $125 million 2.775% Series C Senior Unsecured Debentures due February 10, 2020 (Series C Notes) issued by Crombie Real Estate Investment Trust (Crombie).

The Series C Notes are direct senior unsecured obligations of Crombie and rank equally and rateably with all other unsecured and unsubordinated indebtedness of Crombie. Net proceeds from the offering will be used by Crombie for repayment of existing indebtedness, including the February 2015 redemption of the $45 million 5.75% Series C Convertible Debentures 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.

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

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