{"id":1931,"date":"2008-03-17T17:55:15","date_gmt":"2008-03-17T21:55:15","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=1931"},"modified":"2008-03-17T17:55:15","modified_gmt":"2008-03-17T21:55:15","slug":"gpapra-downgraded-to-p-4high-by-sp","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=1931","title":{"rendered":"GPA.PR.A Downgraded to P-4(high) by S&amp;P"},"content":{"rendered":"<p><a href=\"http:\/\/www.standardandpoors.com\">S&#038;P<\/a> has tersely noted that it has:<\/p>\n<blockquote><p>lowered its ratings on Global Credit Pref. Corp.&#8217;s preferred shares and removed them from CreditWatch with negative implications, where they were placed Jan. 16, 2008<br \/>\n<b>&#8230;<\/b><br \/>\nThe lowering of the ratings mirrors the lowering of the rating on the credit-linked note to which the preferred shares are linked.<\/p><\/blockquote>\n<p>The rating had previously been P-3(low)\/Watch Negative.<\/p>\n<p>The <a href=\"http:\/\/www.gatehousecapital.ca\/products\/funds.php?id=1\">sponsor&#8217;s website<\/a> notes:<\/p>\n<blockquote><p>Global Credit Pref Corp. is a mutual fund corporation that will issue 10-year redeemable, retractable cumulative preferred shares. The Preferred Shares have been assigned a preliminary rating of P-1 (Low) by Standard &#038; Poor&#8217;s<\/p><\/blockquote>\n<p>Par value is $25.00. The sponsor claims that the NAVPS is $13.70. They closed on the TSX today at 9.80-50, 17&#215;10. Ouch!<\/p>\n<p>There are 1.6+ million shares outstanding. GPA.PR.A is not tracked by HIMIPref&trade;.<\/p>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S&#038;P has tersely noted that it has: lowered its ratings on Global Credit Pref. Corp.&#8217;s preferred shares and removed them from CreditWatch with negative implications, where they were placed Jan. 16, 2008 &#8230; The lowering &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-1931","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1931","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=1931"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1931\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}