{"id":4630,"date":"2008-12-22T18:37:15","date_gmt":"2008-12-22T22:37:15","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=4630"},"modified":"2008-12-22T18:37:15","modified_gmt":"2008-12-22T22:37:15","slug":"prfpra-downgraded-to-p-2high-watch-negative-by-sp","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=4630","title":{"rendered":"PRF.PR.A Downgraded to P-2(high) \/ Watch Negative by S&amp;P"},"content":{"rendered":"<p>ROC Pref Corp <a href=\"http:\/\/www.cclgroup.com\/portals\/3\/newsitems\/ROC\/ROCAnnouncementDec222008.pdf\">has announced<\/a>:<\/p>\n<blockquote><p>that Standard &#038; Poor\u2019s (\u201cS&#038;P\u201d) lowered its ratings on the Company\u2019s Preferred Shares from P-1 to P-2 (high) and the Preferred Shares remain on CreditWatch with negative implications. S&#038;P expects to resolve the CreditWatch placement within a period of 90 days and update its opinion. As announced in a press release dated December 8, the move comes as a result of the Tribune Company credit event as well as several downgrades of companies held in the Reference Portfolio.<\/p>\n<p>ROC Pref Corp.\u2019s Preferred Shares pay a fixed quarterly coupon of 4.30% on their $25.00 principal value and will mature on or about September 30, 2009. The Standard &#038; Poor\u2019s rating addresses the likelihood of full payment of distributions and payment of $25.00 principal value per Preferred Share on the maturity date. The Preferred Shares are listed for trading on the Toronto Stock Exchange under the symbol PRF.PR.A.<\/p><\/blockquote>\n<p>The effect of the Tribune credit event was <a href=\"http:\/\/www.prefblog.com\/?p=4383\">reported on PrefBlog<\/a>.<\/p>\n<p>PRF.PR.A is not tracked by HIMIPref\u2122.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ROC Pref Corp has announced: that Standard &#038; Poor\u2019s (\u201cS&#038;P\u201d) lowered its ratings on the Company\u2019s Preferred Shares from P-1 to P-2 (high) and the Preferred Shares remain on CreditWatch with negative implications. S&#038;P expects &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-4630","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/4630","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=4630"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/4630\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}