11:36 AM EDT, 05/31/2024 (MT Newswires) -- Morningstar DBRS said Fridayit assigned a credit rating of "BBB" with a stable trend to RioCan Real Estate Investment Trust's (REI-UN.TO) $300 million 5.455% Series AK senior unsecured debentures due March 1, 2031.

The assigned credit rating is based upon the credit rating of an already-outstanding series of the senior unsecured debentures.

The company plans to use the proceeds to repay existing debt at or before maturity and use any proceeds for general business purposes.

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