DBRS announced today that they are upgrading the Canadian Utilities Limited preferred shares Series O, T, W & X from Pfd-2 to Pfd-2(high), where they will now match the series Q, R, S, U & V.
HIMIPref™ tracks four of these issues:
| CU Issues & HIMIPref™ |
| Series |
Symbol |
Status |
| Q |
CU.PR.T |
Unchanged |
| R |
CU.PR.V |
Unchanged |
| W |
CU.PR.A |
Upgraded |
| X |
CU.PR.B |
Upgraded |
I do not anticipate much excitement to result from this upgrade. The two issues affected are high-dividend perpetuals with a short period until their YTW call. Due to the shortness of their expected term, NONE of the CU issues are eligible for purchase recommendations from HIMIPref™.
And anyway, as far as I can tell, the market isn’t putting much of a premium on “High” modifiers anyway!
The HIMIPref™ credit rating adjustment will take effect commencing October 31.
This entry was posted on Monday, October 30th, 2006 at 11:54 pm and is filed under Data Changes, Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
DBRS Upgrades Canadian Utilities!
DBRS announced today that they are upgrading the Canadian Utilities Limited preferred shares Series O, T, W & X from Pfd-2 to Pfd-2(high), where they will now match the series Q, R, S, U & V.
HIMIPref™ tracks four of these issues:
I do not anticipate much excitement to result from this upgrade. The two issues affected are high-dividend perpetuals with a short period until their YTW call. Due to the shortness of their expected term, NONE of the CU issues are eligible for purchase recommendations from HIMIPref™.
And anyway, as far as I can tell, the market isn’t putting much of a premium on “High” modifiers anyway!
The HIMIPref™ credit rating adjustment will take effect commencing October 31.
This entry was posted on Monday, October 30th, 2006 at 11:54 pm and is filed under Data Changes, Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.