{"id":1276,"date":"2007-10-05T17:15:20","date_gmt":"2007-10-05T21:15:20","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=1276"},"modified":"2007-10-05T17:15:20","modified_gmt":"2007-10-05T21:15:20","slug":"iqwprc-iqwprd-downgraded-by-dbrs-again","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=1276","title":{"rendered":"IQW.PR.C \/ IQW.PR.D Downgraded by DBRS &#8230; Again"},"content":{"rendered":"<p>It was only about five weeks ago that these issues <a href=\"http:\/\/www.prefblog.com\/?p=1129\">were last downgraded<\/a> and now <a href=\"http:\/\/www.dbrs.com\">DBRS<\/a> has announced:<\/p>\n<blockquote>\n<p>DBRS has today downgraded the long-term debt of Quebecor World Inc. (Quebecor World or the Company) and its debt-issuing subsidiaries to B from B (high) and the preferred share ratings to Pfd-5 from Pfd-5 (high). The trend on all ratings remains Negative.<\/p>\n<p>The downgrade is a result of DBRS\u2019s concern over the significance and nature of security pledged as part of the Company\u2019s renegotiated bank agreement, which may have reduced the future financial flexibility of Quebecor World. Additionally, DBRS notes continued concern over the Company\u2019s near-term liquidity constraints which could restrict its ability to execute on its longer-term business and financing plans.<\/p>\n<\/blockquote>\n<p>The issues continue to be rated P-5 (Watch Negative) by <a href=\"http:\/\/www.standardandpoors.com\">S&#038;P<\/a>.<\/p>\n<p>IQW.PR.C was <a href=\"http:\/\/www.prefblog.com\/?p=1180\">mentioned as an arbitrage possibility<\/a> on September 11 when it closed at 23.35-50, but potential profits have been greatly reduced in the last three-weeks-odd: it closed today at 24.36-98.\n<\/p>\n<p><!--f7a8f7c717d1755e32b06081b96a1379--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It was only about five weeks ago that these issues were last downgraded and now DBRS has announced: DBRS has today downgraded the long-term debt of Quebecor World Inc. (Quebecor World or the Company) and &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-1276","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1276"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1276\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}