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DBRS rates Granite REIT notes BBB
DBRS said it assigned Granite REIT Holdings LP’s C$500 million of 2.378% series 5 senior unsecured debentures due Dec.18, 2030, a BBB rating with a stable trend. Granite Real Estate Investment Trust and Granite REIT Inc. will guarantee the notes.
The rating is based on the rating of the already-outstanding series of senior unsecured debentures, DBRS said.
Proceeds will be used to refinance debt, including the redemption of the series 2 senior unsecured debentures due July 5, 2021 and general corporate purposes.
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