DBRS Assigns Rating of AA (low), Stable, to AIMCo Realty’s CAD 325 Million 3.367% Series 3 Notes

DBRS Limited (DBRS) assigned a rating of AA (low) with a Stable trend to AIMCo Realty Investors LP’s (AIMCo Realty) CAD 325 million 3.367% Senior Unsecured Notes, Series 3 due June 1, 2027 (the Series 3 Notes). The rating assigned is based on the rating on the already-outstanding series of senior unsecured debt.

The Series 3 Notes are direct senior unsecured obligations of AIMCo Realty and rank pari passu with all other present and future unsecured, unsubordinated indebtedness of AIMCo Realty, if any. The Series 3 Notes are not guaranteed or secured by Alberta Investment Management Corporation (AIMCo), Her Majesty the Queen in Right of Alberta, AIMCo’s clients or AIMCo Realty’s limited partners.

DBRS understands that the net proceeds from the offering will be used to repay amounts drawn on AIMCo Realty’s revolving credit facility and for other general corporate purposes.

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

The principal methodologies are Rating Entities in the Real Estate Industry (April 2018) and DBRS Criteria: Guarantees and Other Forms of Support (January 2018), 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.