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DBRS confirms CREIT
DBRS said it confirmed the senior unsecured debentures rating of Canadian Real Estate Investment Trust’s (CREIT) at BBB with a stable trend.
The agency said the rating takes into consideration CREIT’s diversified portfolio by asset class, good quality retail properties, tenant diversification and conservative financial profile.
However, the rating is constrained by the trust’s size and scale, geographic concentration in Alberta, exposure to secondary and suburban markets and high proportion of secured debt in the debt structure, DBRS noted.
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