Plenary Health Peel LP: Rating Report

DBRS Limited (DBRS) confirmed the rating of A (low) on the Series A Senior Bonds (the Bonds) issued by Plenary Health Peel LP (ProjectCo), the special-purpose entity (SPE) created to design, build, finance and maintain (DBFM) a new 350,000 square foot (sq. ft.) hospital facility in Brampton, Ontario (the Project), under a 32.3-year project agreement (PA) with William Osler Health System (Osler or the Hospital) and the Province of Ontario (the Province; rated AA (low) with a Stable trend by DBRS). The trend is Stable, supported by the completion of construction activities and a smooth transition to the service phase.