DBRS Morningstar Discontinues Rating on Leisureworld Senior Care LP’s Series B Senior Secured Debentures

DBRS Limited (DBRS Morningstar) discontinued its rating on Leisureworld Senior Care LP’s (Leisureworld) Series B Senior Secured Debentures (the Debentures) due February 3, 2021. Sienna Senior Living Inc., Leisureworld’s parent company, redeemed the Debentures early and fully repaid them on October 2, 2020 (see DBRS Morningstar’s press release on Sienna dated October 2, 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 methodologies are Rating Companies in the Canadian Long-Term Care Industry (September 9, 2020) and DBRS Morningstar Criteria: Rating Corporate Holding Companies and Parent/Subsidiary Rating Relationships (November 25, 2019), 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.

For more information on this credit or on this industry, visit www.dbrsmorningstar.com or contact us at [email protected].

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