Issue Comments

DBRS Removes Some Split Corps. from Review

previously noted that DBRS had placed a number of Income-Trust-Based Split-Share Corporations under review, following the Hallowe’en Massacre. They announced on February 1 that some of these reviews are now completed.

Income-Trust-Based Split-Shares Under Review Nov/06
Ticker HIMI Index Current Rating Disposition
FCI.PR.A Pfd-2 Remain under review until DBRS has final information about the merger.
FCF.PR.A Pfd-2
FCN.PR.A Pfd-2
FIG.PR.A InterestBearing Pfd-2
ASI.PR.A Pfd-2 (low) “remains Under Review with Developing Implications as the downside protection (38% currently) continues to experience erosion.”
STW.PR.A InterestBearing Pfd-2 (low) Removed from review with no change in rating.
ES.PR.B
EN.PR.A
Pfd-2 (low) Removed from review with no change in rating.
EN.PR.A
ES.PR.A
Scraps Pfd-2 (low) “remain Under Review with Developing Implications as the downside protection (39% currently) has exhibited volatility due to its exposure to the oil and gas sector.”

Update, 2007-09-05: After posting regarding the downgrade of ES.PR.B, I realized that the original table (now shown with strikethroughs) was incorrect. The correct ticker symbols have been inserted in bold

One comment DBRS Removes Some Split Corps. from Review

[…] Update, 2007-08-11: The last commentary regarding this issue had to do with the DBRS credit review. There appears to have been some kind of oversight at DBRS – the issue is still “Under Review – Developing” […]

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