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”.

┬áHIMIPref 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.

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

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

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