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Fixed Income Quarterly—Outlook
Rating Agency Activity
Canadian Fixed Income Universe – Credits with Positive/Negative Outlooks
Chart 2.3
25 20 15 10
5 0
22
9
5
1
1
Negative
Under Review Negative
Positive
Under Review Positive
Under Review Developing
Note: Under Review also incorporates S&P CreditWatch trends
Source: BMO Capital Markets, DBRS, Standard and Poor’s and Moody’s As at March 31, 2014