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DBRS ends Omers review
DBRS said it removed Omers Realty Corp.’s issuer rating and senior unsecured notes rating from under review with negative implications and confirmed both ratings at AA (low) with negative trends.
Despite continuing pandemic-related headwinds, Omers delivered a robust recovery during fiscal year 2021, the agency said.
“DBRS Morningstar estimates ORC's total debt to EBITDA at approximately 9.7 times (x) from 10.2x at YE2021 (EBITDA interest coverage at 3.29x), which is a significant improvement relative to DBRS Morningstar’s prior expectations as outlined in its July 16, 2021, press release,” the agency said in a press release.
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