DBRS rates Dollarama notes BBB

DBRS said it assigned a BBB rating to Dollarama Inc.’s $375 million of 1.871% senior unsecured notes due July 8, 2026, and $375 million of 2.443% senior unsecured notes due July 9, 2029.

“The ratings assigned to these newly issued debt instruments are based on the rating of an already-outstanding debt series of the above-mentioned debt instruments,” DBRS said in a press release.

Dollarama intends to use the proceeds to repay the $525 million of its 2.337% senior unsecured notes due July 22, to repay a portion of its U.S. commercial paper notes and for general corporate purposes.

The trend is stable.

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