DBRS Assigns BBB Rating to CREIT’s $125 Million Series D Senior Unsecured Debentures
Real EstateDBRS Limited (DBRS) has today assigned a rating of BBB with a Stable trend to the $125 million 2.951% Series D Senior Unsecured Debentures (Series D Bonds) due January 18, 2023, issued by Canadian Real Estate Investment Trust (CREIT or the Trust).
The Series D Bonds are direct senior unsecured obligations of CREIT and rank equally and rateably with one another and 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 to repay certain indebtedness and for general purposes.
Notes:
All figures are in Canadian dollars unless otherwise noted.
The applicable methodology is Rating Entities in the Real Estate Industry (February 2017).
For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.