DBRS assigns RioCan debt BBB (high)

DBRS said it assigned a rating of BBB (high) with a stable trend to the C$150 million 3.746% series V senior unsecured debentures due May 30, 2022 issued by RioCan Real Estate Investment Trust.

The bonds are direct senior unsecured obligations of RioCan and rank equally and rateably with all other unsecured and unsubordinated debt of RioCan.

The company will use net proceeds to fund development, for property acquisitions, to repay certain debt and for general trust purposes.

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