IQW.PR.C / IQW.PR.D Downgraded by DBRS

DBRS has announced that they have downgraded all series of the Quebecor World Inc. preferred shares to Pfd-4 with a negative trend (it was previously Pfd-4(high) with a negative trend.

DBRS cited a “greater than expected weakening of the financial profile”.

 HIMIPref subscribers will not be too concerned about this downgrade, as Hymas Investment Management does not recommend the purchase of anything that’s rated Pfd-4(high) or lower, and will only recommend Pfd-3 issues (of any sub-grade) in certain circumstances and in small amounts relative to portfolio size.

HIMIPref does, however, maintain the Quebecor World preferreds in its database: symbols IQW.PR.C and IQW.PR.D. These issues are recorded solely for the sake of continuity and have no influence on the calculation of yield curves.

This entry was posted on Wednesday, August 9th, 2006 at 4:05 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “IQW.PR.C / IQW.PR.D Downgraded by DBRS”

  1. PrefBlog » Blog Archive » DBRS: IQW.PR.C / IQW.PR.D Under Review Negative says:
    August 14, 2007 at 3:14 pm

    […] It hasn’t been too long since these issues were downgraded from Pfd-4(high) to Pfd-4. […]

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