DBRS gives BCI QuadReal notes AA

DBRS said it rated BCI QuadReal Realty’s C$400 million of 2.551% senior notes, series 5 due June 24, 2026, AA (low).

The rating assigned is based on the rating of an already-outstanding debt series of the above-mentioned debt instrument, DBRS said.

The issuer intends to use the proceeds and cash on hand to make an intercompany loan to bcIMC Realty Corp., which will use the loan proceeds to finance or refinance, in whole or in part, expenditures associated with eligible green projects under its green bond framework.

The trend is stable.

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