DBRS confirms Omers Realty

DBRS said it confirmed Omers Realty Corp.’s senior notes rating at AA (low) with a stable trend.

The agency said the rating takes into consideration the company’s stand-alone risk profile, low level of secured debt and a view of the implicit support provided by Omers Administration Corp.

DBRS said the confirmation reflects the improving business risk factors over the last three years. Specifically, better asset diversification and a better lease maturity profile, which somewhat offsets the deterioration in the financial risk profile.

“Leverage, as measured by the debt-to-EBITDA ratio, has deteriorated and is at the high end of the range for the current rating category,” the agency said in a news release.

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