DBRS Assigns Rating to OPB Finance Trust’s Series D Debentures Reopening at AA (high)

DBRS Limited (DBRS) has today assigned a rating of AA (high) to OPB Finance Trust’s (the Trust) Series D Debentures Reopening (the Debentures), which is a reopening of this series of Debentures, maturing on February 24, 2022. The trend on the rating is Stable. OPB Finance Trust is a wholly owned subsidiary and principle financing vehicle of the Ontario Pension Board (OPB), which unconditionally and irrevocably guarantees the Debentures.

The Debentures are the direct and unsecured obligations of the Trust and rank pari passu with the other present and future unsecured and unsubordinated obligations of the Trust. Net proceeds from the issuance will be used to originate loans to members of the OPB Group to repay a portion of the funding that was made available for recent real estate acquisitions.

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 methodologies are Rating Canadian Public Pension funds & Related Exclusive Asset Managers and DBRS Criteria: Guarantees and Other Forms of Explicit Support, which can be found on our website under Methodologies.