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Canadian Wheat Board Jan 06
Standard & Poors, Jan 2006
Abstract
The ratings on the Canadian Wheat Board (CWB) reflect: The strong support provided by the government of Canada (AAA/Stable/A-1+ sovereign credit ratings), 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; and 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. CWB's public policy role and government support is likely to diminish because of the ongoing pressure from the World Trade Organization (WTO) and/or because of possible shifts in the domestic policy. While CWB's monopoly power granted by the government of Canada on the...
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,MILIT-AIR Inc.
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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