{"id":33889,"date":"2016-11-15T00:24:01","date_gmt":"2016-11-15T05:24:01","guid":{"rendered":"http:\/\/prefblog.com\/?p=33889"},"modified":"2016-11-15T00:24:01","modified_gmt":"2016-11-15T05:24:01","slug":"fbs-pr-c-upgraded-to-pfd-2high-by-dbrs","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=33889","title":{"rendered":"FBS.PR.C Upgraded To Pfd-2(high) by DBRS"},"content":{"rendered":"<p>DBRS <a href=\"http:\/\/www.dbrs.com\/research\/302039\/dbrs-upgrades-5banc-split-inc-class-c-preferred-shares-series-1-to-pfd-2-high.html\">has announced<\/a> that it:<\/p>\n<blockquote><p> has today upgraded the rating of Class C Preferred Shares, Series 1 (the Preferred Shares) issued by 5Banc Split Inc. (the Company) to Pfd-2 (high).<br \/><b>&#8230;<\/b><br \/>As of November 3, 2016, the downside protection was approximately 72%. Based on the dividend yield on the underlying Portfolio holdings as of November 3, 2016, the Preferred Share dividend coverage ratio was approximately 2.5 times (x). The Company\u2019s excess dividends, net of all expenses, may be distributed to the holders of the Capital Shares.<\/p><\/blockquote>\n<p>FBS.PR.C is tracked by HIMIPref\u2122, but is relegated to the Scraps subindex on volume concerns. More information can be obtained via the <a href=\"http:\/\/www.timbercreek.com\/investments\/managed-companies\/5banc-split-inc\">company\u2019s page maintained by its sponsor<\/a>. With <a href=\"http:\/\/www.timbercreek.com\/docs\/default-source\/split-co\/5banc\/5banc-split-inc---financial-results\/5banc-financial-statements---interim-june-15-2016-final.pdf?sfvrsn=4\">slightly less than 1.1-million Units outstanding<\/a>, the fund is too small for investment on an active basis, but I track it anyway. The issue was last mentioned on PrefBlog when <a href=\"http:\/\/prefblog.com\/?p=26886\">Timbercreek took over sponsorship of the fund<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DBRS has announced that it: has today upgraded the rating of Class C Preferred Shares, Series 1 (the Preferred Shares) issued by 5Banc Split Inc. (the Company) to Pfd-2 (high).&#8230;As of November 3, 2016, the &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-33889","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/33889","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=33889"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/33889\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}