DBRS assigns Omers notes AA

DBRS said it assigned a rating of AA (low) with a stable trend to Omers Realty Corp.’s C$400 million of 1.298% series 12 senior unsecured debentures due Sept. 22, 2023.

The rating is based on the rating of an already-outstanding series of the above-mentioned debt instrument.

The series 12 debentures are direct unsecured obligations of Omers and rank pari passu with all other present and future unsecured and unsubordinated indebtedness of the corporation. The series 12 debentures are not guaranteed by Omers Administration Corp.

DBRS said the proceeds are being used to repay certain indebtedness of Omers Realty.

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