DBRS rates RONA preferreds Pfd-3

DBRS said it assigned a new rating of Pfd-3 with a stable trend to the new five million cumulative five-year rate reset series 6 class A preferred shares of RONA inc. for proceeds of $125 million.

The $125 million issue does not have a significant impact on RONA's financial profile, given the relatively small size of the issue, DBRS said.

Proceeds will be used to reduce debt, contribute to the funding of future strategic acquisitions, capital projects and for general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.