DBRS Morningstar Assigns Provisional Rating of AA, Stable, to Queen’s University’s Series B Senior Unsecured Debentures

DBRS Limited (DBRS Morningstar) assigned a provisional rating of AA with a Stable trend to Queen’s University’s (the University) proposed Series B Senior Unsecured Debentures (Series B Debentures). The rating being assigned is based upon the rating on already-outstanding series of the above-mentioned debt instrument.

The $125 million Series B Debentures will be direct senior unsecured obligations of the University and will rank equally with its other unsecured obligations. The University will use the proceeds of the issuance to fund capital projects.

For more information, please refer to DBRS Morningstar’s most recent press release about the University dated April 20, 2020.

ESG CONSIDERATIONS
A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework and its methodologies can be found at: https://www.dbrsmorningstar.com/research/357792.

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

The principal methodology is Rating Public Universities, which can be found on dbrsmorningstar.com under Methodologies & Criteria.

For more information regarding rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/357883.

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.dbrsmorningstar.com or contact us at [email protected].

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