DBRS Discontinues RONA inc, Ratings

DBRS Limited (DBRS) has today discontinued the Issuer Rating, Senior Unsecured Debt and Preferred Shares ratings of RONA inc. (RONA or the Company). The ratings are being discontinued at the request of the Company, prior to resolving the Under Review with Positive Implications status, as DBRS did not have sufficient information at this time regarding Lowe’s Companies, Inc.’s (Lowe’s; rated A (low), Stable by DBRS) financial management intentions as it relates to RONA.

On February 3, 2016, DBRS placed RONA’s ratings Under Review with Positive Implications after the Company’s announcement that it had entered into a definitive under which RONA would be acquired by Lowe’s for a total transaction value of $3.2 billion. On May 20, 2016, Lowe’s announced that it had completed its acquisition of RONA.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com.

The applicable methodologies are Rating Companies in the Merchandising Industry (August 2015), Preferred Share and Hybrid Criteria for Corporate Issuers (January 2016), and DBRS Recovery Ratings for Non-Investment Grade Corporate Issuers (March 2016), which can be found on our website under Methodologies.