DBRS rates Choice Properties

DBRS said it assigned a rating of BBB with stable trend to the C$250 million series E senior unsecured debentures due Sept. 14, 2020 issued by Choice Properties Real Estate Investment Trust (CP REIT).

The bonds are direct senior unsecured obligations of CP REIT and rank equally with all the existing senior unsecured debentures and all other unsecured and unsubordinated indebtedness of the company, DBRS said.

The proceeds will be used for repayment of existing indebtedness and for general trust purposes, the agency said.

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