DBRS Assigns Pfd-3 Rating to Brookfield Office Properties Inc.’s Class AAA Preference Shares, Series CC, Stable Trend

DBRS Limited (DBRS) has today assigned a rating of Pfd-3 with a Stable trend to the $200 million Class AAA Preference Shares, Series CC (Series CC Preferred Shares), issued by Brookfield Office Properties Inc. (Brookfield).

The Series CC Preferred Shares will rank equally and rateably with Brookfield’s existing Class AAA preference shares and in priority of the Company’s Class B preferred shares and common shares. DBRS understands that the net proceeds from the sale of the Series CC Preferred Shares will be used for general corporate purposes, including, but not limited to, repayment of revolving debt, acquisitions, capital expenditures and working capital needs.

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: Preferred Share and Hybrid Criteria for Corporate Issuers (January 2016), which can be found on our website under Methodologies.

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