This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Morguard Corporation Assigned A DBRS Issuer Rating Of BBB (low) With A Stable Trend

MISSISSAUGA, ON, Sept. 5, 2013 /CNW/ - Morguard Corporation (TSX: MRC) today announced it has been assigned a DBRS Issuer Rating of BBB (low) with a Stable trend.

This is the first time DBRS has rated Morguard Corporation.  In its Report, which reflects the credit quality of debt that ranks below Morguard's property-specific debt, DBRS noted Morguard's core portfolio quality, reliable cash distributions from investment holdings, sound financial profile and diversification by tenant and asset type.

"Morguard is pleased to have achieved this institutional rating which reflects the quality and size of our balance sheet" said Rai Sahi, Chairman and Chief Executive Officer of Morguard Corporation.  "Being institutionally rated will provide Morguard with new financing sources.  We are committed to maintaining fiscal discipline as we seek real estate investment opportunities across North America."

DBRS also commented in its report that Morguard has grown to its current level ( $5.1 billion in total assets) through a series of mergers and acquisitions and organic growth focused in the office, retail, hotel and multi-residential segments, primarily in Ontario and the southeast U.S. This, combined with consistent operating performance and conservative financial management, has led to a steady record of growth in earnings and sound credit metrics in recent years.

To view the full DBRS news release, visit

Morguard Corporation is a real estate company, which owns a diversified portfolio of 121 retail, multi-unit residential, office and industrial properties comprising of 15,862 multi-unit residential suites, 1,056 hotel rooms and approximately 7.1 million square feet of commercial leasable space. Morguard Corporation also owns a 43.3% interest in Morguard Real Estate Investment Trust and a 48.7% effective interest in Morguard North American Residential Real Estate Investment Trust. Morguard also provides advisory and management services to institutional and other investors. For more information, visit the Company's website at

SOURCE Morguard Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs