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Cadillac Fairview Finance Trust's Senior Unsecured Debentures Assigned 'AAA' Rating
Standard & Poors, May 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.
Abstract
TORONTO (Standard & Poor's) May 9, 2011--Standard & Poor's Ratings Services today said it assigned its 'AAA' issue-level rating to Cadillac Fairview Finance Trust's (CFFT or the trust) 3.64% series C (due May 9, 2018) senior unsecured debentures. 'The rating reflects our view of the creditworthiness of the Ontario Teachers' Pension Plan Board, which provides CFFT with an unconditional and irrevocable guarantee for the debentures,' said Standard & Poor's credit analyst Stephen Goltz. The rating also reflects our assessment of Ontario Teachers' Pension Plan Board's (OTPP or the plan) role as manager of one of Canada's largest pension plans, as well as its very strong net asset position; independence from its sponsors; well-established and comprehensive enterprise risk management functions; and...
Companies mentioned in this report are: Cadillac Fairview Finance Trust
Action: New Rating
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