Fixed Income Quarterly—Outlook
Page 19
Rating Agency Activity
YTD 2014 Canadian Corporate Debt Rating Changes by Sector
Chart 2.2
6
4
2
0
2
4
CW-Negative CW-Positive
Negative Positive
Downgrade Upgrade
CW-Developing
INFRA
TEL
UTIL - Gas/Elec
1
0
0
Upgrade
1
1
3
Positive
2
0
0
CW-Positive
0
0
0
CW-Developing
2
0
0
Downgrade
0
0
1
Negative
0
0
0
CW-Negative
As at March 31, 2014
Source: BMO Capital Markets
Industry: ABS: Asset-Backed Security, AUTO: Auto, BANK: Bank, CABLE: Cable, FIN: Financial Services & Other Financials, IND: Industrial Products, INFRA: Infrastructure, INS: Insurance, M&M: Metals and Mining, O&G: Oil and Gas, OTHER: Other, PIPE: Pipeline, PFA: Pension Fund Agency, PP: Printing and Publishing, REAL ESTATE: Real Estate, RETAIL: Retailer, TEL: Telecom, UTIL: Gas/Elec: Gas and Electric Utility