{"id":8771,"date":"2009-11-19T19:02:18","date_gmt":"2009-11-19T23:02:18","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=8771"},"modified":"2009-11-19T19:02:18","modified_gmt":"2009-11-19T23:02:18","slug":"kspun-dbrs-downgrades-to-pfd-4low-discontinues-coverage","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=8771","title":{"rendered":"KSP.UN: DBRS Downgrades to Pfd-4(low), Discontinues Coverage"},"content":{"rendered":"<p>DBRS <a href=\"http:\/\/www.dbrs.com\/research\/230653\/kingsway-linked-return-of-capital-trust\/dbrs-downgrades-rating-on-kingsway-linked-return-of-capital-trust-and-discontinues-coverage.html\">has announced<\/a>:<\/p>\n<blockquote><p>has today downgraded its rating on the LROC Preferred Units (the Units) issued by Kingsway Linked Return of Capital Trust (the Trust) to Pfd-4 (low) from Pfd-4. The Under Review with Negative Implications status, which was assigned to the Units on June 8, 2009, is being maintained.<\/p>\n<p>The LROC Preferred Units are supported by an exposure to a note guaranteed by Kingsway Financial Services Inc. and Kingsway America Inc. (collectively, Kingsway) through a forward purchase agreement. The downgrade of the Units is a result of DBRS downgrading the long-term debt ratings of Kingsway earlier today to B (high) from BB (low).<\/p>\n<p>Also, subsequent to today\u2019s downgrade, DBRS immediately discontinued its ratings coverage of Kingsway. As a result, the rating of the Units has also been discontinued.<\/p><\/blockquote>\n<p>KSP.UN was last mentioned on PrefBlog when it was <a href=\"http:\/\/www.prefblog.com\/?p=6835\">downgraded to Pfd-4 by DBRS<\/a>. KSP.UN is not tracked by HIMIPref&trade;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DBRS has announced: has today downgraded its rating on the LROC Preferred Units (the Units) issued by Kingsway Linked Return of Capital Trust (the Trust) to Pfd-4 (low) from Pfd-4. The Under Review with 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-8771","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/8771","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=8771"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/8771\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}