DBRS Assigns BBB (low), Stable Trend, to Artis REIT’s $200 Million Series B Floating Rate Debentures

DBRS Limited (DBRS) assigned a rating of BBB (low) with a Stable trend to the $200 million Series B Floating Rate Debentures (the Series B Debentures) issued by Artis Real Estate Investment Trust (Artis or the Trust).

The Series B Debentures are direct senior unsecured obligations of Artis 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 partially repay indebtedness outstanding on the Trust’s credit facilities.

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

The principal methodologies are Rating Entities in the Real Estate Industry (April 2017) and DBRS Criteria: Preferred Share and Hybrid Security Criteria for Corporate Issuers (December 2017), which can be found on dbrs.com under Methodologies.

The rated entity or its related entities did participate in the rating process for this rating action. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities.

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