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Cadillac Fairview Finance Trust Jun 11
Standard & Poors, June 2011
Abstract
Ontario Teachers' Pension Plan Board's (OTPP) guarantee of debentures Status as primary funding vehicle of one of the largest Canadian pension plans OTPP's very strong net asset position and well-established, comprehensive enterprise risk management framework Ontario teachers' mandatory participation Strong plan sponsorship through the Province of Ontario (AA-/Stable/A-1+) Unhelpful demographic trends Frequent actuarial deficits at OTPP Standard & Poor's Ratings Services' issue-level ratings on Cadillac Fairview Finance Trust's (CFFT) series A,B, and C debentures reflect our view of the creditworthiness of the Ontario Teachers' Pension Plan Board (OTPP or the plan), which provides CFFT with an unconditional and irrevocable guarantee for the three series of debentures. The ratings also reflect our assessment of OTPP's role as manager of one of...
Companies mentioned in this report are: Cadillac Fairview Finance Trust
Action: Review
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: Full Analysis
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