On February 6, 2023, DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating and Senior Unsecured Debentures rating of Artis Real Estate Investment Trust at BBB (low) and its Preferred Trust Units rating at Pfd-3 (low). All ratings have Stable trends.
DBRS Morningstar published the commentary titled, “A Decade of Reaching for the Top Floor: Assessing the Advancement of Women in Canadian Real Estate.” The commentary focuses on women’s representation at the board and executive levels of Canadian real estate entities. Some of the highlights include: -- As of 2021, women’s representation on corporate boards increased to 33% from a simple average of 6% in 2010. -- Over the same time period, the percentage of board committee positions held by wo...
On February 4, 2022, DBRS, Inc. (DBRS Morningstar) removed the ratings of Artis Real Estate Investment Trust (the REIT) from Under Review with Negative Implications, where they were placed on December 17, 2020. At the same time, DBRS Morningstar confirmed the REIT’s Issuer Rating and Senior Unsecured Debentures rating at BBB (low) and its Preferred Trust Units rating at Pfd-3 (low). All trends are now Stable.
DBRS Limited (DBRS Morningstar) notes that Artis Real Estate Investment Trust announced on October 24, 2021, its participation in a consortium (the Consortium), which has announced an agreement to acquire Cominar Real Estate Investment Trust and is expected to close in the first quarter of 2022. Artis' participation in this acquisition is consistent with its Business Transformation Plan, which includes purchasing real estate capital markets investments. Should DBRS Morningstar determine that t...
DBRS Limited (DBRS Morningstar) notes that Artis Real Estate Investment Trust (Artis or the REIT; rated BBB (low), Under Review with Negative Implications) released its Business Transformation Plan (the Plan) on March 10, detailing its strategy to transform itself into an asset manager and investment company.
DBRS Limited (DBRS Morningstar) notes that Artis Real Estate Investment Trust (Artis or the REIT) released yesterday the details of its proposed spin-off of its retail portfolio and strategic debt reduction initiative (the Proposed Transactions). DBRS Morningstar has concluded that the Proposed Transactions could help stabilize Artis’ credit profile.
On November 29, 2019, changed the trends on Artis Real Estate Investment Trust’s (Artis or the Trust) Senior Unsecured Debentures and Preferred Trust Units to Negative from Stable and confirmed the ratings at BBB (low) and Pfd-3 (low), respectively.
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