The Bank of Nova Scotia has announced: the applicable dividend rates for its Non-cumulative 5-Year Rate Reset Preferred Shares Series 22 of Scotiabank (the “Preferred Shares Series 22”) and Non-cumulative Floating Rate Preferred Shares Series …
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BNS.PR.R To Remain Outstanding
The Bank of Nova Scotia has announced: that it does not intend to exercise its right to redeem the currently outstanding Non-cumulative 5-Year Rate Reset Preferred Shares Series 22 of Scotiabank (the “Preferred Shares Series …
FTS: Outlook Negative, Says S&P
Standard & Poor’s has announced: On Dec. 11, Fortis Inc. announced the US$4.3 billion proposed acquisition of UNS Energy Corp., an Arizona-based holding company that wholly owns Tucson Electric Power Co. (TEP). The cash portion …
December 11, 2013
I’m glad to see I’m not alone in my worries over central clearing: History tells us, using the metric of loss experience, that CCP management is strong. But history is based on a bygone era …
FTS On Review-Developing by DBRS
Fortis Inc. has announced: that it has entered into an agreement and plan of merger to acquire UNS Energy Corporation (“UNS Energy”) (NYSE:UNS) for US$60.25 per common share in cash, representing an aggregate purchase price …
DBRS Discontinues Rating of RY.PR.W
DBRS has announced that it: has today discontinued its rating of Royal Bank of Canada’s (RBC) Non-Cumulative First Preferred Shares, Series W (Series W). DBRS had placed the Series W, which is convertible to common …
CM.PR.D, CM.PR.E and CM.PR.G Downgraded to Pfd-2 by DBRS
DBRS has announced that it: has today downgraded three convertible Non-Cumulative Class A Preferred Shares, Series 26, 27 and 29 of Canadian Imperial Bank of Commerce (CIBC) to Pfd-2 from Pfd-1 (low). The Under Review …
MAPF Performance: November 2013
The fund underperformed in November, due to its low weighting in junk FixedResets, which outperformed (as indicated by the performance difference between TXPR (+1.26%) and TXPL (+1.66%)). Low Reset investment-grade issues also did well, exemplified …
MAPF Performance, October 2013
The fund outperformed in October, due to its low weighting in junk FixedResets, which underperformed (as indicated by the performance difference between TXPR (-0.07%) and TXPL (-0.78%)). The fund’s returns were also helped along by …
October 18, 2013
The New York Times touts an online personal finance video series: After all, there are few entirely conflict-free places where investors can educate themselves on the topic, and there’s little to no money-related guidance offered …