DBRS assigns Dream Industrial notes BBB

DBRS said it assigned a provisional BBB rating with a stable trend to Dream Industrial Real Estate Investment Trust’s series A senior unsecured debentures, due Dec. 22, 2025 (the series A debentures), for up to C$250 million. Subsidiary Dream Industrial LP and other subsidiaries will guarantee the debentures.

The rating assignment follows DBRS’ assigning a BBB issuer rating with a stable trend to Dream Industrial on Oct. 22. “The REIT’s contemplated issuance of the series A debentures is consistent with DBRS Morningstar’s expectations at that time,” the agency said in a press release.

Proceeds are expected to be used to fund future acquisitions, repay indebtedness and for general trust purposes.

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