DBRS Assigns BBB (high) Rating to RioCan REIT’s $250 Million Series X Senior Unsecured Debentures

DBRS Limited (DBRS) has today assigned a rating of BBB (high) with a Stable trend to the $250 million 2.185% Series X Senior Unsecured Debentures, due August 26, 2020 (the Series X Bonds), issued by RioCan Real Estate Investment Trust (RioCan or the Trust).

DBRS understands that the net proceeds from the sale of the Series X Bonds will be used to fund development, for property acquisitions and to repay certain indebtedness of the Trust. The Series X Bonds will be direct senior unsecured obligations of RioCan, and will rank equally and rateably with all other unsecured and unsubordinated indebtedness of the Trust.

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

The applicable methodologies are Rating Entities in the Real Estate Industry (June 2016) and DBRS Criteria: Preferred Share and Hybrid Security 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.