DC.PR.A & DC.PR.B Now Unrated By Agencies

Dundee Corporation has announced:

that it has chosen to discontinue the services of each of Standard & Poor’s and DBRS with regards to maintaining a credit rating for the Corporation. The Corporation has determined that since it has limited amounts of public debt outstanding, and no current intention to issue additional public debt, there is no need for it to maintain the credit ratings, nor incur the significant associated costs of maintaining such ratings.

Accordingly, DBRS has announced that it:

has today discontinued its public ratings on Dundee Corporation including both the Issuer Rating and Preferred Shares rating.

Both DC.PR.A and DC.PR.B are tracked by HIMIPref™, but relegated to the Scraps index on credit concerns.

Update, 2012-12-10: S&P follows:

On Dec. 10, 2012, Standard & Poor’s Ratings Services affirmed its ‘BBB-‘ issuer credit rating on Dundee Corp. Subsequently, we withdrew the rating at the issuer’s request following its announcement that it currently has no intention of issuing public debt.

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