Nothing happened today. There was a solid gain for the Canadian preferred share market today, with PerpetualPremiums up 11bp, FixedResets winning 14bp and DeemedRetractibles gaining 3bp. Volatility was average. Volume was average. HIMIPref™ Preferred IndicesThese …
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TCL Downgraded by S&P to P-3
Standard and Poor’s has announced: •We are lowering our long-term corporate credit rating on Montreal-based Transcontinental Inc. to ‘BBB-‘ from ‘BBB’. •We base the downgrade on our view of challenging industry fundamentals, whereby the company …
February 28, 2013
Christine Harper of Bloomberg brings forward an interesting view on the effect of Basel III: Investors such as Joshua Siegel, founder and managing principal at New York-based StoneCastle Partners LLC, see bigger changes at the …
DBRS Downgrades SLF to Pfd-2(high)
DBRS has announced that it: has today downgraded its ratings on the debt and preferred share obligations of Sun Life Financial Inc. (Sun Life or the Company) and its affiliates by a single notch, including …
February 27, 2013
To my surprise, an adult was quoted regarding the role of underwriters in capital markets: In both cases, banks that profited by bringing the securities to market were later accused of misrepresenting the risks and …
February 26, 2013
It’s an ill wind that blows nobody any good: U.S. banks are looking to capitalize on a dearth of financing for Europe’s commercial property market that’s driven lending margins to five times the level prior …
February 25, 2013
More bad news out of Europe, even before the Italian election returns: he euro zone will not return to growth until 2014, the European Commission said on Friday, reversing its prediction for an end to …
February 22, 2013
Moody’s downgraded the UK: Britain lost its top credit rating by Moody’s Investors Service, which cited the continuing weakness in the nation’s growth outlook and the challenges that presents to the government’s fiscal consolidation program. …
February 21, 2013
Poor little Encana’s having a temper tantrum: A lawyer for Encana Corp. is demanding the deletion of an Internet posting containing audio of an Encana executive swearing. On Feb. 14, during a quarterly results conference …
February 20, 2013
The lawyers and do-gooders at IIROC are continuing their efforts to destroy the Canadian corporate bond market: >Four years ago, the head of the investment industry’s self-regulator said that a plan to create surveillance to …