DBRS rates Artis debentures BBB (low)

DBRS said it assigned a rating of BBB (low) with a stable trend to the C$200 million series B floating-rate debentures issued by Artis Real Estate Investment Trust.

The agency said the debentures are direct senior unsecured obligations of Artis and rank equally and rateably with one another and with all other unsecured and unsubordinated debt of the trust.

DBRS said it understands that the net proceeds from the offering will be used to partially repay debt outstanding on the trust’s credit facilities.

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