DBRS rates OPB Finance debentures AA (high)

DBRS said it assigned a provisional rating of AA (high) to the proposed $250 million series D debentures to be issued by OPB Finance Trust.

The trend is stable.

The trust is a wholly owned and principal financing subsidiary of Ontario Pension Board. DBRS said.

The Debentures will be unconditionally and irrevocably guaranteed by OPB, the agency said, and will rank pari passu with all other unsecured and unsubordinated indebtedness of the trust.

The proceeds will be used to finance OPB’s real estate transactions, DBRS said.

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