KSP.UN Downgraded to P-4(low) by S&P; DBRS downgrades asset

DBRS has announced that it:

has today downgraded the long-term debt ratings of Kingsway Financial Services Inc. (Kingsway or the Company) and its U.S. holding company, Kingsway America Inc., to BB (low) from BBB (low). The ratings remain Under Review with Negative Implications, where they were placed on February 9, 2009.

There has not, as yet, been a change announced in their rating of KSP.UN, a structured preferred-ha-ha ultimately dependent upon the credit of Kingsway Financial Services.

KSP.UN was downgraded on May 13 by S&P to B- / P-4(low).

KSP.UN was last mentioned on PrefBlog when DBRS placed it under review-negative. KSP.UN is not tracked by HIMIPref™.

One Response to “KSP.UN Downgraded to P-4(low) by S&P; DBRS downgrades asset”

  1. […] DBRS downgrade of Kingsway has been previously discussed on […]

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