DBRS Reinstates BBB Rating on Strait Crossing Development Inc.

DBRS has today reinstated its rating of BBB with a Negative trend on the Revenue Bonds of Strait Crossing Development Inc. (the Company) at the request of the Company. DBRS notes that concerns remain with respect to the weakness of the debt service coverage ratio amidst the slowing momentum of the global economic recovery, and, without a marked improvement in credit metrics over the next six months, a rating downgrade is likely. A full review of the credit with the participation of the Company is expected to follow shortly.

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The applicable methodology is Rating Canadian Public-Private Partnerships, which can be found on our website under Methodologies.