DBRS Morningstar Assigns AAA Rating to OMERS Finance Trust’s CAD 1.55% Series B Senior Notes Due April 21, 2027

DBRS Limited (DBRS Morningstar) assigned a rating of AAA with a Stable trend to the CAD 1.25 Billion 1.55% Series B Senior Notes due April 21, 2027 (the Series B Senior Notes), issued by OMERS Finance Trust (OFT). The assigned rating is based upon the existing rating assigned to OFT’s Medium-Term Notes. The Series B Senior Notes have a coupon rate of 1.55% and a maturity date of April 21, 2027. OFT is the principal financing vehicle of OMERS Administration Corporation (OMERS; rated AAA with a Stable trend by DBRS Morningstar). The Senior Notes are unconditionally and irrevocably guaranteed by OMERS and rank pari passu with all other present and future unsecured and unsubordinated indebtedness of OMERS.

The rating includes additional analysis on the expected performance because of the global efforts to contain the spread of the Coronavirus Disease (COVID-19). For details on the economic impact of the coronavirus on DBRS Morningstar-rated Canadian public pension funds, please see the commentary, <a href="https://www.dbrsmorningstar.com/research/359714/" target="_blank">”Impact of the Coronavirus Economic Fallout on DBRS Morningstar-Rated Canadian Public Pension Funds,”</a> published on April 17, 2020.

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 CAD dollars unless otherwise noted.

The principal methodology is Rating Canadian Public Pension Funds & Related Exclusive Asset Managers (May 1, 2019), 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.

For more information regarding structured finance rating methodologies and Coronavirus Disease (COVID-19), please see the following DBRS Morningstar press release: https://www.dbrsmorningstar.com/research/358308.

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.

For more information on this credit or on this industry, visit www.dbrsmorningstar.com or contact us at info@dbrsmorningstar.com.

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