DBRS Morningstar Finalizes Provisional Rating of A (high) on York University’s Series B Debentures

DBRS Limited (DBRS Morningstar) finalized its provisional rating of A (high) with a Stable trend on York University’s (York or the University) Series B Senior Unsecured Debentures (Series B Debentures). The $100 million 3.394% Series B Debentures, maturing April 1, 2060, rank equally with York’s other unsecured obligations. The finalized rating is based upon the rating on an already-outstanding series of the above-mentioned debt instrument. The proceeds of the issuance will be used to fund construction of the University’s Markham Centre Campus.

A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework and its methodologies can be found at: https://www.dbrsmorningstar.com/research/357792.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The principal methodology is Rating Public Universities, which can be found on dbrsmorningstar.com under Methodologies & Criteria.

For more information regarding rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/357883/

The rated entity or its related entities did participate in the rating process for this rating action. DBRS Morningstar had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.

Generally, the conditions that lead to the assignment of a Negative or Positive trend are resolved within a 12-month period. DBRS Morningstar trends and ratings are under regular surveillance.

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