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Research Update: UBS Commodities Canada Ltd. Rated 'AA'; Outlook Stable Dec 07 Product Image

Research Update: UBS Commodities Canada Ltd. Rated 'AA'; Outlook Stable Dec 07

  • ID: 1752130
  • December 2007
  • Region: Canada
  • Standard & Poors

Abstract
On Dec 12, 2007, Standard & Poor's Ratings Services assigned its 'AA' long-term counterparty credit rating to Calgary, Alta.-based UBS Commodities Canada Ltd (UBS CC; the company). The outlook is stable. The rating on UBS CC reflects the implied and demonstrated support of its very strong parent, UBS AG (AA/Stable/A-1+), and thus UBS CC shares the same published rating as UBS AG. Standard & Poor's believes UBS CC to be an integral part of the UBS Group as it represents a sizable portion of the group's global commodities business, measured by both contributions to global commodities earnings and a percentage of global commodities risk-weighted assets. Through strong ties, the company benefits and leverages off the strength of the consolidated entity's...

Companies mentioned in this report are:
- UBS Commodities Canada Ltd.
- UBS AG

Action: New Rating

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.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

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