{"id":17316,"date":"2011-12-14T01:58:17","date_gmt":"2011-12-14T05:58:17","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=17316"},"modified":"2011-12-14T01:58:17","modified_gmt":"2011-12-14T05:58:17","slug":"bns-preferred-technical-downgrade-on-global-scale-by-sp","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=17316","title":{"rendered":"BNS: Preferred Technical Downgrade on Global Scale by S&amp;P"},"content":{"rendered":"<p>Standard &#038; Poor&#8217;s <a href=\"http:\/\/www.standardandpoors.com\/ratings\/articles\/en\/us\/?articleType=HTML&#038;assetID=1245325796364\">has announced<\/a>:<\/p>\n<blockquote>\n<ul>\n<li>Following a review of the Bank of Nova Scotia (BNS) under Standard &#038; Poor&#8217;s revised bank criteria (published on Nov. 9, 2011), we are affirming the &#8216;AA-\/A-1+&#8217; long- and short-term issuer credit ratings on<br \/>\nBNS. The outlook is stable.<\/p>\n<li>Our ratings on BNS reflect the bank&#8217;s strong business position, adequate<br \/>\ncapital and earnings, strong risk position, and average funding and adequate liquidity, as our criteria define these terms.<\/p>\n<li>The ratings on BNS benefit from a one-notch uplift for potential extraordinary government support in a crisis.\n<li>We expect the bank to continue to generate consistent earnings supported by its stable retail banking operations and manageable loan losses.<\/ul>\n<p>As we previously announced, on Dec. 13, 2011, Standard &#038; Poor&#8217;s Ratings Services affirmed its &#8216;AA-\/A-1+&#8217; long- and short-term issuer credit ratings on The Bank of Nova Scotia. The outlook is stable. At the same time, we lowered the ratings on the bank and its subsidiaries&#8217; hybrid securities and preferred stock to &#8216;A-&#8216; from &#8216;A&#8217;, two notches below the SACP, consistent with the application of our revised bank hybrid capital criteria (published Nov. 1, 2011).<\/p><\/blockquote>\n<p>The issues remain at P-1(low) on the Preferred Scale.<\/p>\n<p>BNS has the following issues outstanding: BNS.PR.J, BNS.PR.K, BNS.PR.L, BNS.PR.M, BNS.PR.N and BNS.PR.O (DeemedRetractible) and BNS.PR.P, BNS.PR.Q, BNS.PR.R, BNS.PR.T, BNS.PR.X, BNS.PR.Y and BNS.PR.Z (FixedReset).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Standard &#038; Poor&#8217;s has announced: Following a review of the Bank of Nova Scotia (BNS) under Standard &#038; Poor&#8217;s revised bank criteria (published on Nov. 9, 2011), we are affirming the &#8216;AA-\/A-1+&#8217; long- and short-term &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-17316","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/17316","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=17316"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/17316\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}