DBRS Assigns Rating of BBB (low), Stable, to Artis Real Estate Investment Trust’s CAD 250 Million 3.674% Series C Senior Unsecured Debentures

DBRS Limited (DBRS) assigned a rating of BBB (low) with a Stable trend to Artis Real Estate Investment Trust’s (Artis or the Trust) CAD 250 million 3.674% Series C Senior Unsecured Debentures, Due February 22, 2021 (the Series C Debentures). The rating being assigned is based upon the rating on the already-outstanding series of Senior Unsecured Debentures.

The Series C 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 net proceeds from the offering will be used to partially repay outstanding indebtedness.

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: Preferred Share and Hybrid Security Criteria for Corporate Issuers (November 2018), which can be found on dbrs.com under Methodologies & Criteria.

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 in connection with this rating action.

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

DBRS Limited
DBRS Tower, 181 University Avenue, Suite 700
Toronto, ON M5H 3M7 Canada