DBRS rates PSP Capital notes AAA

DBRS said it assigned a rating of AAA with a stable trend to the series 11 medium-term notes issued by PSP Capital Inc.

The C$1.25 billion notes have a coupon rate of 3% and a maturity date of Nov. 5, 2025.

PSP Capital is a wholly owned subsidiary and the principal financing vehicle of the Public Sector Pension Investment Board, DBRS said.

The notes are unconditionally and irrevocably guaranteed by the company and rank pari passu with all other present and future unsecured and unsubordinated obligations of PSP Capital, the agency said.

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