{"id":2039,"date":"2008-04-11T16:13:26","date_gmt":"2008-04-11T20:13:26","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=2039"},"modified":"2008-04-11T16:13:26","modified_gmt":"2008-04-11T20:13:26","slug":"gpapra-on-credit-watch-negative-by-sp","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=2039","title":{"rendered":"GPA.PR.A On Credit Watch Negative by S&amp;P"},"content":{"rendered":"<p><a href=\"http:\/\/www2.standardandpoors.com\/portal\/site\/sp\/en\/ca\/page.article\/2,1,1,3,1204835029654.html\">S&#038;P has announced<\/a>:<\/p>\n<blockquote><p>placed its ratings on the issue of Global Credit Pref Corp.&#8217;s preferred shares on CreditWatch with negative implications (see list). The CreditWatch placement mirrors the CreditWatch action on the credit-linked note (CLN) to<br \/>\nwhich the issue of preferred shares is linked.<br \/>\n     Standard &#038; Poor&#8217;s will continue to monitor the underlying portfolio and expects to resolve the CreditWatch placement within a period of 90 days and update its opinion.<\/p>\n<p>Global Credit Pref Corp.<br \/>\nRatings Placed On CreditWatch Negative<br \/>\n                            To                    From<br \/>\nPreferred shares<br \/>\n Global scale:              B+\/Watch Neg          B+<br \/>\n Canada national scale:     P-4(High)\/Watch Neg   P-4(High)<\/p>\n<p>(Related CLN: The Toronto-Dominion Bank C$48,031,000 Portfolio Credit Linked<br \/>\nNotes)<\/p><\/blockquote>\n<p>The follows the <a href=\"http:\/\/www.prefblog.com\/?p=1931\">downgrade to P-4(high)<\/a> less than a month ago.<\/p>\n<p>Originally issued at $25.00, the NAV is now $11.92 <a href=\"http:\/\/www.gatehousecapital.ca\/products\/funddoc.php?id=1\">according to the sponsor<\/a>.  Ouch! It is currently quoted at 11.01-35, 4&#215;3.<\/p>\n<p>GPA.PR.A is not tracked by HIMIPref&trade;. Many thanks to the Assiduous Reader who brought this to my attention!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S&#038;P has announced: placed its ratings on the issue of Global Credit Pref Corp.&#8217;s preferred shares on CreditWatch with negative implications (see list). The CreditWatch placement mirrors the CreditWatch action on the credit-linked note (CLN) &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-2039","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/2039","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=2039"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/2039\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}