DBRS Assigns BBB (low) Rating to Allied’s $200 Million Series C Senior Unsecured Debentures

DBRS Limited (DBRS) has today assigned a rating of BBB (low) with a Stable trend to Allied Properties Real Estate Investment Trust’s (Allied or the Trust) $200 million 3.636% Series C Senior Unsecured Debentures due April 21, 2025 (the Series C Bonds).

The Series C Bonds are direct senior unsecured obligations of Allied and will rank equally and rateably with all other debt securities 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 amounts drawn on Allied’s unsecured revolving credit facility for general working capital purposes.

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

The principal methodology is Rating Entities in the Real Estate Industry (February 2017), which can be found on dbrs.com under Methodologies.

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