DBRS Assigns BBB Rating to Choice Properties REIT’s $250 Million Series G Senior Unsecured Debentures and $100 Million Series H Senior Unsecured Debentures, Stable Trends

DBRS Limited (DBRS) has today assigned a rating of BBB with a Stable trend to the $250 million 3.196% Series G Senior Unsecured Debentures, due March 7, 2023, and $100 million 5.268% Series H Senior Unsecured Debentures, due March 7, 2046 (collectively, the Series G and H Bonds), issued by Choice Properties Real Estate Investment Trust (Choice Properties REIT).

DBRS understands that the net proceeds from the sale of the Series G and H Bonds will be used to repay existing indebtedness and for general business purposes. The Series G and H Bonds are guaranteed by Choice Properties Limited Partnership and Choice Properties GP Inc., and rank equally and rateably with the existing Senior Unsecured Debentures and all other unsecured and unsubordinated Indebtedness of Choice Properties REIT.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodologies are Rating Entities in the Real Estate Industry (May 2015), Rating Companies in the Merchandising Industry (August 2015), and DBRS Criteria: Guarantees and other Forms of Explicit Support (February 2016), 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.