DBRS Morningstar published a commentary that focuses on DBRS Morningstar-rated Canadian public pension funds and related exclusive asset managers’ (the Pension Funds) direct and indirect exposure to the banks at the centre of the current banking turmoil to assess any potential credit impact. Key highlights include the following: -- The Pension Funds do not have material direct or indirect exposures to Credit Suisse, Silicon Valley Bank, or Signature Bank. -- The Pension Funds continue to ha...
DBRS Limited (DBRS Morningstar) confirmed the Public Sector Pension Investment Board's (PSP Investments) Issuer Rating at AAA. DBRS Morningstar also confirmed PSP Capital Inc.’s Medium-Term Notes rating at AAA and both the Canadian Short-Term Promissory Notes and the U.S. Commercial Paper Notes ratings at R-1 (high), based on the unconditional and irrevocable guarantee provided by PSP Investments. The trends on all ratings remain Stable.
DBRS Limited (DBRS Morningstar) confirmed the Issuer Rating of the Public Sector Pension Investment Board (PSPIB or the Fund) at AAA. DBRS Morningstar also confirmed the ratings of the notes (collectively, the Notes) issued by PSP Capital Inc. (PSP Capital) as follows: -- Medium-Term Notes at AAA -- Canadian Short-Term Promissory Notes at R-1 (high) -- U.S. Commercial Paper Notes at R-1 (high) All trends are Stable.
This commentary focuses on the short-term financial impacts of recent events caused by the Coronavirus Disease (COVID-19) pandemic on DBRS Morningstar-rated Canadian public pension funds and related exclusive asset managers (the Pension Funds).
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