{"id":24820,"date":"2014-03-28T19:55:23","date_gmt":"2014-03-29T00:55:23","guid":{"rendered":"http:\/\/prefblog.com\/?p=24820"},"modified":"2014-03-28T19:55:23","modified_gmt":"2014-03-29T00:55:23","slug":"cf-pr-a-cf-pr-c-dbrs-says-trend-now-stable","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=24820","title":{"rendered":"CF.PR.A, CF.PR.C : DBRS Says Trend Now &quot;Stable&quot;"},"content":{"rendered":"<p>DBRS <a href=\"http:\/\/dbrs.com\/research\/266489\/dbrs-confirms-canaccord-preferred-shares-at-pfd-3-low-trend-now-stable.html\">has announced<\/a> that it:<\/p>\n<blockquote><p>has today confirmed its rating of the Cumulative Preferred Shares of Canaccord Genuity Group Inc. (Canaccord or the Company) at Pfd-3 (low). The trend was restored to Stable (from Negative) largely on the strength of integration success and because improved geographic diversity has demonstrated a strengthening of Canaccord\u2019s through-the-cycle resilience in the extended weak market environment in Canada. Results in U.K. and Europe, in particular, have counterbalanced poor results in Canada. The return to a Stable trend reflects DBRS\u2019s belief that a negative rating action is less likely to occur in the very near term.<\/p>\n<p>Canaccord\u2019s leverage, as measured by total debt plus preferred shares-to-capitalization, of around 20% is acceptable to DBRS, as are the coverage ratios that have rebounded from recent periods. DBRS does recognize that the current environment represents a low point in the cycle and thus metrics are expected to be in the weaker end of the ranges; nevertheless, any deterioration will be unfavourable for the rating.<\/p><\/blockquote>\n<p>The trend has been negative for a long time! CF.PR.A was last mentioned on PrefBlog when the trend was <a href=\"http:\/\/prefblog.com\/?p=17423\">revised to negative by DBRS in December 2011<\/a>; CF.PR.C <a href=\"http:\/\/prefblog.com\/?p=18336\">started trading in April 2012<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DBRS has announced that it: has today confirmed its rating of the Cumulative Preferred Shares of Canaccord Genuity Group Inc. (Canaccord or the Company) at Pfd-3 (low). The trend was restored to Stable (from Negative) &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-24820","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/24820","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=24820"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/24820\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}