DBRS Finalizes the Provisional Rating of AAA on PSP Capital Inc.’s Series 8 Medium-Term Notes

DBRS Limited has today finalized the provisional rating of AAA with a Stable trend on the Series 8 Medium-Term Notes (the Notes) issued by PSP Capital Inc. (PSP Capital). The $1.25 billion Notes have a coupon rate of 1.34% and a maturity date of August 18, 2021. PSP Capital is a wholly owned subsidiary and the principal financing vehicle of the Public Sector Pension Investment Board (PSPIB). The Notes are unconditionally and irrevocably guaranteed by PSPIB and rank pari passu with all other present and future unsecured and unsubordinated obligations of PSP Capital.

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

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com.

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

The rated entity or its related entities did participate in the rating process. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities.

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