DBRS: Crombie notes BBB (low)

DBRS said it assigned a rating of BBB (low) with a stable trend to the C$175 million 3.986% series A senior unsecured debentures due Oct. 31, 2018 issued by Crombie Real Estate Investment Trust.

The bonds are direct senior unsecured obligations of Crombie and rank equally with all other unsecured and unsubordinated indebtedness of the trust, DBRS said.

The proceeds will be used toward partial payment of the purchase of price of the acquisition, DBRS said.

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