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Home Capital Group Inc.'s C$150 Million Notes Assigned 'BBB' Rating, C$750 Million Shelf Assigned Preliminary Ratings
Standard & Poors, April 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
TORONTO (Standard & Poor's) April 26, 2011--Standard & Poor's Ratings Services today said it assigned its 'BBB' issue rating to Toronto-based Home Capital Group Inc.'s proposed C$150 million senior unsecured notes, due 2016. Standard & Poor's also assigned its 'BBB' senior unsecured, 'BBB-' subordinated debt, 'BB+' global scale preferred stock, and 'P-3(High)' Canada scale preferred stock preliminary ratings to Home Capital's universal shelf. At the same time, Standard & Poor's affirmed its 'BBB' long-term counterparty credit rating on Home Capital and its 'BBB+' long-term counterparty credit rating on Home Capital's subsidiary Home Trust Co. The outlook is stable. The C$150 million senior debt issue is being completed to address the change in Home Trust's leverage position relative to its regulatory...
Companies mentioned in this report are: Home Capital Group Inc.
Action: New Rating
Home Capital Group Inc.