DBRS confirms Place Laurier

DBRS said it confirmed the 10.55% series A and 7.37% series D secured debentures of Place Laurier at A with a stable trend.

The confirmation reflects that Place Laurier continues to perform well with support from good operating fundamentals and solid credit metrics, DBRS said.

The current rating is based on the performance of the shopping center, which reflects the company's prominent position within Quebec City and its good location in the downtown area, the agency said.

The rating is limited by the continued competition of Place Laurier's anchor tenants against discount-type retailers, along with the changing trends in retail formats.

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