DBRS Morningstar Finalizes Provisional Rating of BBB, Stable, on Sienna Senior Living Inc.

DBRS Limited (DBRS Morningstar) finalized its provisional rating of BBB with a Stable trend on the $150 million Series A Senior Unsecured Debentures (Series A Debentures) issued by Sienna Senior Living Inc. (Sienna), maturing on November 4, 2024.

The Series A Debentures are direct senior unsecured obligations of Sienna and rank equally and rateably with all other present and future unsecured and unsubordinated indebtedness of Sienna, except to the extent provided by law. Sienna intends to use the proceeds of the offering to repay existing indebtedness and for general corporate purposes.

For more information, please see the press release “DBRS Morningstar Assigns Provisional Rating of BBB, Stable Trend, to Sienna Senior Living Inc,” published on October 18, 2019.

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

The principal methodologies are Rating Companies in the Canadian Long-Term Care Industry, Rating Entities in the Real Estate Industry and DBRS Criteria: Rating Corporate Holding Companies and Their Subsidiaries, which can be found on dbrs.com under Methodologies & Criteria.

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link under Related Documents or by contacting us at [email protected].

The rated entity or its related entities did participate in the rating process for this rating action. DBRS Morningstar 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 [email protected].

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