Morningstar DBRS Assigns Credit Rating of BBB (high) With a Stable Trend to Dollarama Inc.'s New Debt Issuance

DBRS Limited (Morningstar DBRS) assigned a credit rating of BBB (high) with a Stable trend to Dollarama Inc.'s (Dollarama; rated BBB (high), Stable) $600 million, 3.850% Senior Unsecured Notes due December 16, 2030, which closed on June 16, 2025 (the Notes).

The net proceeds of the Notes are intended to be used to repay the $250 million aggregate principal amount of outstanding 5.084% senior unsecured notes maturing on October 27, 2025, which will be repaid in full at maturity and for general corporate purposes. The Notes will be unsecured and will rank pari passu with all other existing and future unsecured and unsubordinated indebtedness of Dollarama.

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/456008 (June 11, 2025) for more information, including all relevant disclosures.

The rating listed above are based on the Final Term Sheet dated June 12, 2025, the Seventh Supplemental Indenture dated June 16, 2025, and information provided by Dollarama to Morningstar DBRS as of June 16, 2025.

Continuation of the ratings is subject to the provision to Morningstar DBRS of timely and sufficient information and/or data for the purposes of monitoring the above-noted ratings.

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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