I previously noted that DBRS had placed a number of Income-Trust-Based Split-Share Corporations under review, following the Hallowe’en Massacre. They announced on February 1 that some of these reviews are now completed.
| Income-Trust-Based Split-Shares Under Review Nov/06 | |||
| Ticker | HIMI Index | Current Rating | Disposition |
| FCI.PR.A | – | Pfd-2 | Remain under review until DBRS has final information about the merger. |
| FCF.PR.A | – | Pfd-2 | |
| FCN.PR.A | – | Pfd-2 | |
| FIG.PR.A | InterestBearing | Pfd-2 | |
| ASI.PR.A | – | Pfd-2 (low) | “remains Under Review with Developing Implications as the downside protection (38% currently) continues to experience erosion.” |
| STW.PR.A | InterestBearing | Pfd-2 (low) | Removed from review with no change in rating. |
EN.PR.A |
– | Pfd-2 (low) | Removed from review with no change in rating. |
ES.PR.A |
Scraps | Pfd-2 (low) | “remain Under Review with Developing Implications as the downside protection (39% currently) has exhibited volatility due to its exposure to the oil and gas sector.” |
Update, 2007-09-05: After posting regarding the downgrade of ES.PR.B, I realized that the original table (now shown with strikethroughs) was incorrect. The correct ticker symbols have been inserted in bold
[…] Update, 2007-08-11: The last commentary regarding this issue had to do with the DBRS credit review. There appears to have been some kind of oversight at DBRS – the issue is still “Under Review – Developing” […]