DBRS Rates Cominar REIT’s $300 Million Series 9 Senior Unsecured Debentures at BBB (low)

DBRS Limited (DBRS) has today assigned a rating of BBB (low), with a Stable trend, to the $300 million 4.164% Series 9 Senior Unsecured Debentures due June 1, 2022 (the Bonds), issued by Cominar Real Estate Investment Trust (Cominar).

The Bonds are direct senior unsecured obligations of Cominar and rank equally and rateably with one another and with all other unsecured and unsubordinated indebtedness of Cominar. DBRS understands that the net proceeds from the offering will be used by Cominar to pay down debt outstanding under the Unsecured Revolving Credit Facility.

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 (May 2015), which can be found on our website under Methodologies.