DBRS Finalizes Provisional Rating of AAA on Ontario Teachers’ Finance Trust’s USD Issuance

DBRS Limited (DBRS) finalized its provisional rating of AAA with a Stable trend on the USD Senior Notes (the Notes) issued by Ontario Teachers’ Finance Trust (OTFT; rated AAA with a Stable trend by DBRS). The $1.75 billion Notes have a coupon rate of 1.625% per annum and a maturity date of September 12, 2024. OTFT is a wholly owned financing subsidiary of Ontario Teachers’ Pension Plan Board (OTPP; rated AAA with a Stable trend by DBRS). The Notes are unconditionally and irrevocably guaranteed by OTPP and rank pari passu with all other present and future unsecured and unsubordinated obligations of OTFT.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The principal methodologies are Rating Canadian Public Pension Funds & Related Exclusive Asset Managers and Structured Finance Flow-Through Ratings, which can be found on dbrs.com under Methodologies & Criteria.

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