CGQ.E & STR.E & STQ.E Ratings Discontinued

DBRS has announced that it:

today discontinued its ratings on the following preferred shares at the request of Quadravest Capital Management Inc. (the Promoter).

… followed by a list of the three captioned issues. These are all split-share corporations of that horrible form that includes a forward contract and a managed portfolio, like High Income Preferred Shares Corporation. I’m not going to look at the financials to see what I think of them; I’ll just report the NAV of the Managed Portfolio as reported by Quadravest and assume (assume! I can’t even be bothered to check my files!) that this is supposed to cover redemption of the indicated shares.

CGQ.E was downgraded to Pfd-5 on 2006-10-25. Par Value $15.00, Managed Portfolio NAV $12.44.

STQ.E was downgraded to Pfd-5 on 2008-1-7. Par Value $15.00, Managed Portfolio NAV $13.38.

STR.E was downgraded to Pfd-5(low) on 2005-10-25. Par Value $25.00, Managed Portfolio NAV $18.98.
 

This entry was posted on Friday, February 29th, 2008 at 7:08 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 “CGQ.E & STR.E & STQ.E Ratings Discontinued”

  1. STR.E Defaults on Maturity « PrefBlog says:
    February 1, 2011 at 3:40 pm

    […] to allow a “.PR” symbol, but DBRS discontinued rating them in 2008 (when they were last mentioned on PrefBlog) after downgrading them to Pfd-5(low) in 2005 following an initial rating of Pfd-2. So take your […]

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