Moody’s rates Omers notes Aa1

Moody's Investors Service said it assigned an Aa1 rating to Omers Finance Trust's new $1 billion senior notes and affirmed its Aa1 long-term issuer rating of Omers Administration Corp. and its short-term rating of Prime-1.

The outlook is stable.

Proceeds from the new notes will be used for investment purposes, which may include, among other things, making investments in or buying securities of third parties and/or providing financing to one or more direct or indirect subsidiaries of Omers.

The agency said the long-term issuer rating reflects Moody's views of the strong credit quality from its sponsor anchor, Ontario (Aa3 stable), as assumption that Omers' creditors have an effective priority claim on the fund's assets.

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