Morningstar DBRS Assigns a Rating of BBB, Stable, to Sienna Senior Living Inc.'s Series D Senior Unsecured Debentures

DBRS Limited (Morningstar DBRS) assigned a rating of BBB with a Stable trend to Sienna Senior Living Inc.'s (Sienna) $150 million Series D Senior Unsecured Debentures (Series D Debentures) due October 17, 2029. The rating on the Series D Debentures is based upon the rating on the already-outstanding series of Senior Unsecured Debentures.

The Series D Debentures are direct unsecured obligations of Sienna and rank equally and rateably with all other present and future unsecured and unsubordinated indebtedness of Sienna. Morningstar DBRS understands that Sienna will use the net proceeds of the offering to repay existing indebtedness and for general corporate purposes.

The credit rating assigned to this newly issued debt instrument is based on the credit rating of an already-outstanding debt series of the above-mentioned debt instrument. Please refer to https://dbrs.morningstar.com/research/438267 dated August 23, 2024, for more information, including all relevant disclosures.

Information regarding Morningstar DBRS credit ratings, including definitions, policies, and methodologies, is available on dbrs.morningstar.com or contact us at info-DBRS@morningstar.com.

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