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Canadian Wheat Board Jun 04
Standard & Poors, June 2004
Abstract
The rating on the Canadian Wheat Board (CWB) reflects: The very strong support provided by the government of Canada, as evidenced by its unconditional guarantee of CWB's borrowings and grain credit sales receivables and its obligation to pay for losses arising from the corporation's operations. In fact, the government recently demonstrated this support by reimbursing CWB for losses incurred in its wheat pool account during the 2003 crop year. CWB's ongoing role as an instrument of public policy, owing to the importance of agriculture and of export sales of wheat and other grains to the Canadian economy. The government's commitment and statutory obligation to provide financial support to the corporation stems from CWB's political importance to the sovereign, and underpins...
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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