Contents
  Corporate Debt Financing
  Dominion Bond Rating Service
  Standard and Poor’s
Ratings Definitions

Corporate Bonds  

FP Bonds – Corporate lists outstanding publicly and privately held debt securities – together with their features and provisions – issued by Canadian incorporated companies. Separate tables list convertible, exchangeable, retractable and extendible debt issues. An additional table lists outstanding asset-backed securities.

Corporate debt issues outstanding as at May 19, 2009 have been included. An important part of investing in the debt market is determining the quality of a debt issue. Credit ratings are forward looking measures, which assess an entity’s ability to make timely payments of interest and principal. As such, a credit rating combines both quantitative and qualitative analysis.

FP Bonds – Corporate includes ratings supplied by Dominion Bond Rating Service (DBRS) and by Standard & Poor’s (S&P). The DBRS ratings, dated May 19, 2009, are presented in two tables, in addition to being shown with each issue. The first table lists issues by rating, from lowest to highest.

Generally, a DBRS rating of BBB is considered to be investment grade and anything below that could be considered as non-investment grade or high-yield debt. As well, unrated securities are also considered to be high-yield if its spread to a comparable Government of Canada issue is substantially higher than the spread between investment-grade corporate bonds and Government of Canada issues. A second table lists all rated issues by company.

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