Standard & Poor’s has announced: it revised its outlook on IGM Financial Inc. (IGM) to negative from stable. At the same time, Standard & Poor’s affirmed its ratings on IGM, including the ‘A+/A-1’ long- and …
Search Results for: performance
March 6, 2009
OSFI is busily cementing its reputation as a bastion of political expediency: The Office of the Superintendent of Financial Institutions, or OSFI, Canada’s banking regulator, plans to delve into the way that pay packages are …
March 5, 2009
There is now quantitative easing in the UK: Bank of England Governor Mervyn King will take the unprecedented step of printing money to buy assets after cutting the interest rate by a half point to …
DBRS Downgrades Six More SplitShares
DBRS has announced: has today downgraded six ratings of structured Preferred Shares issued by various split share companies. Each of these split share companies has invested in a portfolio of securities (the Portfolio) funded by …
March 4, 2009
Sorry folks! Not much by way of commentary today! PerpetualDiscounts were off again to yield 7.46%, equivalent to 10.44% interest at the standard equivalency factor of 1.4x. Long Corporates continue to hold at 7.50%, so …
Best & Worst Performers: February 2009
These are total returns, with dividends presumed to have been reinvested at the bid price on the ex-date. The list has been restricted to issues in the HIMIPref™ indices. February 2009 Issue Index DBRS Rating …
March 3, 2009
Bernanke gave testimony today, making the important point: With such large near-term deficits, it may seem too early to be contemplating the necessary return to fiscal sustainability. To the contrary, maintaining the confidence of the …
MAPF Portfolio Composition: February 2009
Trading was relatively heavy in February, with portfolio turnover of about 135%, as the market showed an increasing distaste for insurers that eventually spread to banks by month-end. The huge issuance of bank Fixed-Resets ceased …
March 2, 2009
Whoosh! In like a lion, all right! Suncor Energy Inc. dropped 10 percent after its shares were downgraded at Raymond James & Associates Inc. on expectations of lower oil and gas prices. Potash Corp. of …
Fitch Downgrades Manulife; Assigns Preferred Rating
Fitch Ratings has announced it: has downgraded the ratings of Manulife Financial Corporation (MFC) and its operating subsidiaries. At the same time Fitch assigns an ‘A’ rating to MFC’s Non-cumulative Preferred Class A, Series 4. …