Canada Pension Plan Investment Board Rating Affirmed At 'AAA' On Solid Investment Portfolio Dec 11

  • ID: 2033242
  • December 2011
  • Region: Canada
  • Standard & Poors
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We are affirming our 'AAA' long-term issuer credit and 'A-1+' rating on the Canada Pension Plan Investment Board (CPPIB). We are also affirming our 'A-1+' global scale and 'A-1'(High)' Canada scale commercial paper ratings on subsidiary CPPIB Capital Inc. The ratings primarily reflect our view of the board's role as investment fund manager for the Canada Pension Plan, in which enrollment is mandatory for all Canadian workers outside Quebec. The ratings also reflect our assessment of CPPIB's large investment portfolio and strong net creditor position; well-developed corporate governance and risk management frameworks; and experienced management team. The stable outlook reflects our expectation that the board will maintain a very large net asset position and conservative risk management framework. TORONTO (Standard...

Companies mentioned in this report are:
- Canada Pension Plan Investment Board
- CPPIB Capital Inc.

Action: Affirmed
Action: Outlook: Stable

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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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- Canada Pension Plan Investment Board
- CPPIB Capital Inc.

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