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-University of Toronto's unsecured debentures assigned AA rating by DBRS.

BANKING AND CREDIT NEWS-December 5, 2011--University of Toronto's unsecured debentures assigned AA rating by DBRS(C)2011 M2 COMMUNICATIONS http://www.m2.com

5 December 2011 - DBRS on Friday gave an AA rating with a "stable" outlook to the CAD100m (USD98.4m/EUR73.2m) series E unsecured debentures of University of Toronto.

The notes are due on 7 December 2051.

They are "senior unsecured obligations of the University and rank pari passu with all other senior unsecured obligations. The rating is consistent with those previously assigned by DBRS on the University's outstanding bonds. Net debt proceeds will be used mainly to finance upcoming capital projects," the agency said.

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Publication:M2 Banking & Credit News (BCN)
Date:Dec 5, 2011
Words:119
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