DBRS Assigns Rating of BBB (high), Stable to H&R REIT’s $150 Million Series M Senior Unsecured Debentures

DBRS Limited (DBRS) has today assigned a rating of BBB (high) with a Stable trend to the $150 million CDOR (as defined by the Trust Indenture) plus 1.23% Series M Senior Unsecured Debentures (the Series M Bonds) issued by H&R Real Estate Investment Trust (H&R or the Trust), due July 23, 2019.

The Series M Bonds will be direct senior unsecured obligations of H&R and rank equally and rateably with all other unsecured and unsubordinated indebtedness of the Trust, except to the extent prescribed by law.

DBRS understands that the net proceeds from the offering will be used for repayment of existing indebtedness and 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.

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