DBRS Assigns Rating of BBB (high) with Stable Trend to RioCan Real Estate Investment Trust's 2.576% Series AB Senior Unsecured Debentures, Due February 12, 2025

DBRS Limited (DBRS) assigned a rating of BBB (high) with a Stable trend to RioCan Real Estate Investment Trust’s (RioCan or the Trust; rated BBB (high) with a Stable trend by DBRS) $500 million 2.576% Series AB Senior Unsecured Debentures, Due February 12, 2025 (the Series AB Debentures). The rating of the Series AB Debentures is based upon the rating on the already-outstanding series of Senior Unsecured Debentures.

The Series AB Debentures are direct senior unsecured obligations of RioCan and rank equally and rateably with all other present and future unsecured and unsubordinated indebtedness of the Trust. The net proceeds will be used to repay certain existing debt of RioCan.

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

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

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

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