DBRS Assigns Pfd-3 Rating to Brookfield Office Properties Inc.’s $275 Million Class AAA Preference Shares, Series EE, Stable Trend

DBRS Limited (DBRS) has today assigned a rating of Pfd-3 with a Stable trend to the $275 million Class AAA Preference Shares, Series EE (Series EE Preferred Shares), issued by Brookfield Office Properties Inc. (Brookfield).

The Series EE Preferred Shares will rank equally and rateably with Brookfield’s existing Class AAA preference shares and in priority of the Company’s Class B preferred shares and common shares.

DBRS understands that the net proceeds from the sale of the Series EE Preferred Shares will be used for general corporate purposes, which may include the redemption of existing preferred shares.

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 (December 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.