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DBRS rates OPB Finance Trust debt AA (high)
DBRS said it assigned a provisional rating of AA (high) to the proposed series E debentures to be issued by OPB Finance Trust.
The trend on the rating is stable.
The trust is a wholly owned subsidiary and principle financing vehicle of the Ontario Pension Board (OPB).
DBRS said the rating reflects the unconditional and irrevocable guarantee of OPB on the debentures. The debentures are the direct and unsecured obligations of the trust and rank pari passu with the other present and future unsecured and unsubordinated obligations of the trust.
Net proceeds will be used to originate loans to members of the OPB Group to repay a portion of the funding that was made available for recent real estate acquisitions.
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