DBRS rates Dundee debentures BBB (low)

DBRS said it assigned a rating of BBB (low) with a stable trend to the C$175 million 3.424% series A senior unsecured debentures due June 13, 2018 issued by Dundee Real Estate Investment Trust.

The bonds are direct, senior unsecured obligations of Dundee REIT and rank equally and ratably with all other unsecured and unsubordinated indebtedness of Dundee REIT, DBRS said.

The proceeds will be used to repay indebtedness, acquire properties, fund development and for general trust purposes, the agency said.

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