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Canada Mortgage and Housing Corporation May 05
Standard & Poors, May 2005
Abstract
Crown Corporation status. The ratings on Canada Mortgage and Housing Corporation (CMHC) reflect: Its status as a Crown Corporation (an agent of Her Majesty in right of Canada); Its 100% ownership by the government of Canada; and The provision that CMHC's debt constitutes direct unconditional obligations of the Canadian government, and is a charge on and payable out of its Consolidated Revenue Fund (CRF). The stable outlook mirrors that of the government of Canada and reflects Standard & Poor's expectation that CMHC will continue to play a key role in Canada's housing policy. The Canadian government implements its housing programs and policies through CMHC (See Table 1). The corporation's mandate, as described in the National Housing Act (NHA), is to...
Companies mentioned in this report are: Canada Mortgage and Housing Corp.,Canada,Export Development Canada ,Farm Credit Canada,Business Development Bank of Canada,Canadian Wheat Board,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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