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Home Capital Group Inc.'s C$150 Million Notes Assigned 'BBB' Rating, C$750 Million Shelf Assigned Preliminary Ratings
- Published: April 2011
- Standard & Poors
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Research type: News
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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
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Home Capital Group Inc.