DBRS Assigns Rating of BBB (low) with a Positive Trend to Allied Properties Real Estate Investment Trust’s 3.394% Series D Senior Unsecured Debentures, Due August 15, 2029

DBRS Limited (DBRS) assigned a rating of BBB (low) with a Positive trend to Allied Properties Real Estate Investment Trust’s (Allied or the Trust) $300 million 3.394% Series D Senior Unsecured Debentures, Due August 15, 2029 (the Series D Debentures). The rating of the Series D Debentures is based on the rating of the already-outstanding series of Senior Unsecured Debentures.

The Series D Debentures are direct senior unsecured obligations of the Trust and rank equally and rateably with all other debt securities and with all other unsecured and unsubordinated indebtedness of Allied, except to the extent prescribed by law. Allied intends to use the net proceeds from the offering to redeem in full the $225 million aggregate principal amount of its 3.748% Series A Senior Unsecured Debentures, Due May 13, 2020, with the balance of proceeds to be used for general Trust purposes.

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

The principal methodology is Rating Entities in the Real Estate Industry, which can be found on dbrs.com under Methodologies & Criteria.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.

DBRS Limited
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Toronto, ON M5H 3M7 Canada