DBRS Morningstar Finalizes Provisional Rating of “A” on University of Windsor’s Series C Senior Unsecured Debentures

DBRS Limited (DBRS Morningstar) finalized its provisional rating of “A” with a Stable trend on the University of Windsor’s (the University) Series C Senior Unsecured Debentures (the Series C Debentures). The $60 million 2.786% Series C Debentures, due September 15, 2060, rank equally with the University’s other unsecured obligations. The University will use the proceeds of the issuance to fund previously approved capital projects, replenish working capital, and for general corporate purposes.

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 (May 15, 2020), 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.

Generally, the conditions that lead to the assignment of a Negative or Positive trend are resolved within a 12-month period. DBRS Morningstar trends and ratings are under regular surveillance.

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