DBRS confirms Morguard REIT

DBRS said it confirmed the issuer rating of Morguard Real Estate Investment Trust at BB (high) with a stable trend.

The rating reflects stable core of retail properties and government-leased office buildings, consistent occupancy in the mid-90% range, good asset type diversification and good financial credit metrics, according to the agency.

The rating also reflects above-average property concentration, relatively small portfolio, below-average geographic diversification and exposure to Hudson's Bay Co. and Sears and near-term office releasing, the agency said.

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