DBRS: RBC bonds A(low)

DBRS said it finalized the rating on RBC Centre's C$300 million of first mortgage bonds at A(low).

The bonds will be direct obligations of Ontrea Inc. with recourse limited to RBC Centre.

The rating takes into consideration credit characteristics of the issuance of the bonds, inclusive of the quality of the asset; the stability of the cash flow, with long-term leases to investment-grade tenants extending beyond the loan maturity; sponsorship strength; and management experience, DBRS said.

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