DBRS Finalizes Provisional Rating of AA (low) on AIMCo Realty Investors LP’s Senior Unsecured Debt

DBRS Limited (DBRS) has today finalized the provisional rating of AA (low) with a Stable trend on AIMCo Realty Investors LP’s (AIMCo Realty or the Company) $400 million 2.266% Senior Unsecured Notes, Series 1 due June 26, 2024 (the Series 1 Notes).

The Series 1 Notes are direct senior unsecured obligations of AIMCo Realty and rank pari passu with all other present and future unsecured, unsubordinated indebtedness of AIMCo Realty, if any. The Series 1 Notes are not guaranteed by Alberta Investment Management Corporation (AIMCo), Her Majesty the Queen in Right of Alberta, AIMCo’s clients or the limited partners of AIMCo Realty.

DBRS understands that the net proceeds from the offering will be used to repay the outstanding revolving facility under the Senior Credit Facility and for other general corporate purposes, including partial capital contribution returns to the Company’s limited partners.

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 principal methodologies are Rating Entities in the Real Estate Industry (April 2017) and DBRS Criteria: Guarantees and Other Forms of Support (February 2017), which can be found on dbrs.com under Methodologies.