DBRS Discontinues Ratings on Ontario Infrastructure and Lands Corporation

DBRS Limited (DBRS) has today discontinued the Issuer Rating and Senior Unsecured Debt rating of Ontario Infrastructure and Lands Corporation (IO).

Since 2008, all long-term financing needs have been provided by the Province of Ontario in the form of subordinated bonds, thus greatly reducing the potential severity of loss for senior bondholders in the event of a default scenario. Furthermore, IO has no plans to issue any new public bonds in the foreseeable future.

DBRS notes that the ratings are being discontinued at the request of the company.

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 methodology is General Corporate Methodology: Appendix – Ontario Infrastructure and Lands Corporation (OILC), 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.