DBRS Morningstar Finalizes Provisional Rating of AA on Queen’s University’s Series B Debentures

DBRS Limited (DBRS Morningstar) finalized its provisional rating of AA with a Stable trend on Queen’s University’s Series B Senior Unsecured Debentures. The $125 million 2.889% Series B Senior Unsecured Debentures, maturing April 27, 2060, rank equally with Queen’s University’s other unsecured obligations. The proceeds of the issuance will be used to fund several capital projects. The above rating is based upon the rating on already-outstanding series of the above-mentioned debt instrument.

ESG CONSIDERATIONS
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 (May 8, 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.

The rated entity or its related entities did 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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