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Canadian Wheat Board Jan 03
Standard & Poors, Jan 2003
Abstract
The ratings of the Canadian Wheat Board (CWB) reflect: The very strong support provided by the government of Canada, as evidenced by its unconditional guarantee of the CWB's borrowings and grain credit sales receivables and its obligation to pay for losses arising from operations; and The CWB's ongoing role as an instrument of public policy, owing to the importance of agriculture in the Canadian economy and the significance of export sales of wheat and other grains. The government's commitment and statutory obligation to provide financial support to the board stems from its political importance to the sovereign, and underpins Standard & Poor's opinion that the CWB's credit standing is equal to that of the sovereign. The outlook on the CWB's...
Companies mentioned in this report are: Canadian Wheat Board,Canada,Export Development Canada ,Farm Credit Canada,Business Development Bank of Canada,Canada Mortgage and Housing Corp.,Bank of Canada
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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