DBRS Rates H&R REIT’s $200 Million Series L Senior Unsecured Debentures at BBB (high), Stable

DBRS Limited (DBRS) has today assigned a rating of BBB (high) with a Stable trend to the $200 million 2.923% Series L Senior Unsecured Debentures, due May 6, 2022 (the Series L Bonds), issued by H&R Real Estate Investment Trust (H&R or the Trust).

The Series L Bonds will be direct senior unsecured obligations of H&R and rank equally and rateably with all other present and future unsecured and unsubordinated indebtedness of the Trust. DBRS understands that the net proceeds from the offering will be used by H&R to repay outstanding indebtedness and for general trust purposes.

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

The applicable methodology is Rating Entities in the Real Estate Industry (June 2016), which can be found on our website under Methodologies.