{"id":33935,"date":"2016-11-22T00:51:23","date_gmt":"2016-11-22T05:51:23","guid":{"rendered":"http:\/\/prefblog.com\/?p=33935"},"modified":"2016-11-22T00:51:23","modified_gmt":"2016-11-22T05:51:23","slug":"igm-pr-b-upgraded-to-p-1low-by-sp","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=33935","title":{"rendered":"IGM.PR.B Upgraded To P-1(low) By S&amp;P"},"content":{"rendered":"<p>Standard &#038; Poor&#8217;s <a href=\"https:\/\/www.standardandpoors.com\/en_AU\/web\/guest\/article\/-\/view\/type\/HTML\/id\/1759574\">has announced<\/a>:<\/p>\n<blockquote>\n<ul>\n<li>\u2022We have revised our view of IGM&#8217;s importance to its ultimate parent, Power Corp. of Canada, to moderately strategic from nonstrategic.\n<li>\u2022We are upgrading IGM to &#8216;A+\/A-1+&#8217; from &#8216;A\/A-1&#8217; and raising all of our<br \/>\nissue-level ratings by one notch.<\/p>\n<li>\u2022The stable outlook reflects our expectation that IGM will maintain a strong market position in Canada while keeping stable-to-improving profitability and coverage ratios.<\/ul>\n<p><b>&#8230;<\/b><br \/>&#8220;The upgrade follows our reassessment of IGM as a moderately strategic subsidiary of Power Corp. of Canada compared with our previous assessment of nonstrategic under our group rating methodology,&#8221; said S&#038;P Global Ratings credit analyst Brian Estiz. &#8220;We base our reassessment of the group credit profile on our belief that IGM is an important part of Power&#8217;s long-term strategy and is unlikely to be sold in the near term. We believe that Power would support the company to a limited extent if there was need. IGM represents about 20% of Power Financial Corp.&#8217;s earnings, which in turn represents about 85% of Power&#8217;s net earnings. We consider Power&#8217;s business risk profile excellent, largely because of the leading market positions of IGM and Great-West Life, which both have the No. 1 market position in Canada in their respective businesses and have reported stable earnings over the past few years.&#8221;<\/p><\/blockquote>\n<p>This follows the <a href=\"http:\/\/prefblog.com\/?p=27147\">downgrade of December, 2014<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Standard &#038; Poor&#8217;s has announced: \u2022We have revised our view of IGM&#8217;s importance to its ultimate parent, Power Corp. of Canada, to moderately strategic from nonstrategic. \u2022We are upgrading IGM to &#8216;A+\/A-1+&#8217; from &#8216;A\/A-1&#8217; and &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-33935","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/33935","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=33935"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/33935\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}