Dundee Corporation Discontinues Arrangements With Credit Rating Services
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 12/07/12 -- Dundee Corporation (TSX: DC.A)(TSX: DC.PR.A)(TSX: DC.PR.B) (the "Corporation") today announced that it has chosen to discontinue the services of each of Standard & Poor's and DBRS with regards to maintaining a credit rating for the Corporation. The Corporation has determined that since it has limited amounts of public debt outstanding, and no current intention to issue additional public debt, there is no need for it to maintain the credit ratings, nor incur the significant associated costs of maintaining such ratings.
ABOUT THE CORPORATION
Dundee Corporation is an independent publicly traded Canadian asset management company. The Corporation's asset management activities are focused in the areas of the Corporation's core competencies and include real estate and infrastructure as well as energy, resources and agriculture. Asset management activities are carried out by Goodman Investment Counsel Inc. (formerly Ned Goodman Investment Counsel Limited), a registered portfolio manager and exempt market dealer across Canada and an investment fund manager in the provinces of Ontario, Quebec and Newfoundland; and by DREAM, the asset management division of Dundee Realty Corporation, a 70% owned subsidiary of the Corporation. Asset management activities are supported by the Corporation's ownership interest in Dundee Capital Markets Inc. Dundee Capital Markets is also the asset manager of the Corporation's flow-through limited partnership business carried out through the "CMP", "CDR" and "Canada Dominion Resources" brands. Dundee Corporation also owns and manages direct investments in these core focus areas, through ownership of both publicly listed and private companies. Real estate operations are carried out through the Corporation's investment in Dundee Realty Corporation, an owner, developer and manager of residential and recreational properties in North America. Energy and resource operations include the Corporation's ownership in Dundee Energy Limited, an oil and natural gas company with a mandate to create long-term value through the development of high impact energy projects. The Corporation also holds other investments in the resource sector, several of which are equity accounted. Agricultural activities are carried out through Dundee Agricultural Corporation. Dundee Agricultural Corporation holds an 84% interest in Blue Goose Capital Corporation, a privately owned Canadian company with a leading position in the organic and natural beef production market with operations in both British Columbia and Ontario.
Contacts:
Dundee Corporation
Ned Goodman
President and Chief Executive Officer
(416) 365-5665
Dundee Corporation
Lucie Presot
Vice President and Chief Financial Officer
(416) 365-5157
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Datum: 07.12.2012 - 16:01 Uhr
Sprache: Deutsch
News-ID 1178429
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Personal Finance
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