DBRS: Integrated bonds A (low)

DBRS said it finalized the rating of A (low) on the C$211.7 million of series A senior bonds of Integrated Team Solutions SJHC Partnership.

The trend is stable.

The ratings consider the strength of EllisDon Corp., which has been retained by the company to perform all design-build obligations, and its parent guarantor EllisDon Inc. as well as on the limited complexity of the facilities relative to standard acute-care hospitals and the extent of the construction security package provided to Integrated, DBRS said.

The A (low) rating also reflects a well-balanced service phase, characterized by a lighter-than-usual scope of service responsibilities entrusted to a high-quality service provider, a reasonably tight lifecycle monitoring and reserving mechanism, and acceptable operating resilience, the agency said.

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