{"id":15193,"date":"2011-05-27T00:13:03","date_gmt":"2011-05-27T04:13:03","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=15193"},"modified":"2011-05-27T00:13:03","modified_gmt":"2011-05-27T04:13:03","slug":"dw-pr-a-upgraded-to-p-2highbbb-by-sp","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=15193","title":{"rendered":"DW.PR.A Upgraded to P-2(high)\/BBB+ by S&amp;P"},"content":{"rendered":"<p>Standard &#038; Poor&#8217;s <a href=\"http:\/\/www.standardandpoors.com\/prot\/ratings\/articles\/en\/us\/?assetID=1245305465091\">has announced<\/a>:<\/p>\n<blockquote><p>\u2022We are raising the ratings on DundeeWealth Inc., including the long-term counterparty credit rating to &#8216;A&#8217; from &#8216;BBB-&#8216;, and removing the ratings<br \/>\nfrom CreditWatch positive where they had been placed following Scotiabank&#8217;s Nov. 22, 2010, acquisition announcement.<\/p>\n<p>The upgrade reflects our view the company is &#8220;strategically important&#8221; to Scotiabank and its wealth management operations and thus benefits from the implied support from being associated with a higher rated entity; we applied three notches of support to the stand-alone rating for being strategically important.<\/p>\n<p>The stable outlook reflects our expectation that DundeeWealth will maintain or improve its position in the Canadian wealth management sector.<\/p><\/blockquote>\n<p>This is a rather stunning 4-notch upgrade on the Preferred scale, to P-2(high) from P-3, and from BB to BBB+ on the global scale.<\/p>\n<p>DBRS continues to rate the issue Pfd-3 (Review-Positive).<\/p>\n<p>DW.PR.A was last mentioned on PrefBlog <a href=\"http:\/\/www.prefblog.com\/?p=13069\">when the acquisition by Scotia was announced<\/a>. DW.PR.A is tracked by HIMIPref&trade; but is relegated to the Scraps index on (rather dubious) credit concerns.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Standard &#038; Poor&#8217;s has announced: \u2022We are raising the ratings on DundeeWealth Inc., including the long-term counterparty credit rating to &#8216;A&#8217; from &#8216;BBB-&#8216;, and removing the ratings from CreditWatch positive where they had been placed &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-15193","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/15193","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=15193"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/15193\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}