DBRS confirms Teranet Holdings

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

DBRS said that Teranet continues to exhibit adequate credit metrics, helped by its exclusive rights to access and manage Ontario's land registry and writs of execution systems and its low capital investment needs.

However, global economic uncertainty and slowing housing demand in Canada are leading to weakening business volumes and pointing to a slower-than-expected buildup in financial flexibility, the agency said.

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