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Summit Industrial Income REIT Assigned a DBRS BBB Low Provisional Rating

TORONTO, Sept. 8, 2020 /CNW/ - Summit Industrial Income REIT ("Summit" or the "REIT") (TSX: SMU.UN) announced today that it has been assigned a Dominion Bond Rating Service ("DBRS") Provisional Issuer Rating of BBB (low).  This is the first time Summit has been rated by DBRS.

"We are pleased to have been assigned this investment grade credit rating from DBRS at this opportune time," commented Paul Dykeman, Chief Executive Officer. "This inaugural rating provides Summit with increased financial flexibility by allowing us to access the unsecured debenture market and expand our pool of unencumbered properties. We believe that the DBRS rating reflects our dedication to a conservative balance sheet and financial management, our strong and growing property portfolio, and our highly positive outlook in spite of the current challenging market conditions."

About Summit

Summit Industrial Income REIT is an unincorporated open-end trust focused on growing and managing a portfolio of light industrial properties 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. These risks and uncertainties include, but are not limited to, tenant risks, current economic environment, 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


View original content: http://www.newswire.ca/en/releases/archive/September2020/08/c2613.html