TORONTO, Sept. 14,
2022 /CNW/ - Summit Industrial Income REIT ("Summit"
or the "REIT") (TSX: SMU.UN) announced today that DBRS Morningstar
("DBRS") has upgraded its Issuer Rating and Senior Unsecured
Debentures rating to BBB from BBB (low) and maintained the Positive
trends.
"We are extremely pleased to receive an upgrade at this time,
reflecting our continued efforts to maintain a strong balance sheet
and liquidity position, attractive and improving credit metrics, a
high proportion of unsecured debt and continuing to grow our
business with high quality assets and tenants," commented
Paul Dykeman, Summit's Chief
Executive Officer.
DBRS will publish a full report providing additional analytical
detail on this rating upgrade. If you are interested in receiving
this report, please contact DBRS
at info@dbrsmorningstar.com.
About Summit Industrial Income
REIT
Summit Industrial Income REIT is an unincorporated open-ended
trust focused on growing and managing a portfolio of light
industrial properties in key markets across Canada. Summit's units are listed on the TSX
and trade under the symbol SMU.UN. For more information, please
visit our web site at www.summitIIreit.com.
Caution Regarding Forward Looking
Information
This news release contains forward-looking statements and
forward-looking information within the meaning of applicable
securities laws. The use of any of the words "expect",
"anticipate", "continue", "estimate", "objective", "ongoing",
"may", "will", "project", "should", "believe", "plans", "intends",
"goal" and similar expressions are intended to identify
forward-looking information or statements. More particularly and
without limitation, this news release contains forward looking
statements and information concerning the goal to build Summit's
property portfolio. The forward-looking statements and information
are based on certain key expectations and assumptions made by
Summit, including general economic conditions. Although Summit
believes that the expectations and assumptions on which such
forward-looking statements and information are based are
reasonable, undue reliance should not be placed on the
forward-looking statements and information because Summit can give
no assurance that they will prove to be correct. By its nature,
such forward-looking information is subject to various risks and
uncertainties, which could cause the actual results and
expectations to differ materially from the anticipated results or
expectations expressed and given the impact of the COVID-19
pandemic and government measures to contain it, as well as the
current geopolitical environment, there is inherently more
uncertainty associated with the REIT's assumptions as compared to
prior periods. These risks and uncertainties include, but are not
limited to, tenant risks, current economic environment, including
disputes between nations, war and international sanctions,
environmental matters, general insured and uninsured risks and
Summit being unable to obtain any required financing and approvals.
Readers are cautioned not to place undue reliance on this
forward-looking information, which is given as of the date hereof,
and to not use such forward-looking information for anything other
than its intended purpose. Summit undertakes no obligation to
update publicly or revise any forward-looking information, whether
as a result of new information, future events or otherwise, except
as required by law.
SOURCE Summit Industrial Income REIT