DBRS confirms Teranet

DBRS said it has confirmed the rating of BBB (high) with a stable trend on the senior secured debt of Teranet Holdings LP, the financing vehicle unconditionally guaranteed by Teranet Inc.

The rating remains supported by Teranet's ownership of the Province of Ontario's electronic land registry system and the electronic writs system as well as the exclusive right to access the data in and operate these systems.

Nonetheless, results remain subject to some cyclicality and are in large part a reflection of the health of the Ontario economy while limited fee-setting autonomy and a relatively heavy debt burden limit financial flexibility, DBRS added.

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