DBRS Assigns BBB Rating to Choice Properties REIT’s $200 Million Series F Senior Unsecured Debentures, Stable Trend

DBRS Limited (DBRS) has today assigned a rating of BBB with a Stable trend to the $200 million Series F Senior Unsecured Debenture (Series F Bonds) due November 24, 2025, issued by Choice Properties Real Estate Investment Trust (CP REIT).

The Series F Bonds are guaranteed by Choice Properties Limited Partnership and Choice Properties GP Inc., 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 methodologies are Rating Entities in the Real Estate Industry (May 2015) and DBRS Criteria: Guarantees and Other Forms of Explicit Support (February 2015), 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.