MONTREAL, Sept. 11 /CNW Telbec/ - The Caisse de dépôt et placement du
Québec is pleased with the recent credit report issued by Moody's. The rating
agency has affirmed the Aaa long-term and Prime-1 short-term credit ratings of
CDP Financial and has maintained its "stable outlook". These ratings are the
highest assigned by the agency.
"It's excellent news for the Caisse that Moody's has affirmed CDP
Financial's credit ratings," stated Michael Sabia, President and Chief
Executive Officer of the Caisse. "It reflects the strength of our institution
and its ability to meet its financial obligations. This news comes in addition
to the affirmations in recent months by DBRS and Standard & Poor's of the
highest credit ratings with a stable outlook."
In July, Standard & Poor's assigned a "stable outlook" to its AAA credit
rating on the Caisse and its subsidiary CDP Financial Inc. In its report, it
said it was impressed with the progress made by the Caisse, notably measures
to stabilize the management team as well as its risk management efforts.
In June, Dominion Bond Rating Services (DBRS) also affirmed the Caisse's
AAA credit rating as well as the R-1 (high) short-term rating and the AAA
long-term rating of its subsidiary CDP Financial, with a stable outlook.
About the Caisse de dépôt et placement du Québec
The Caisse de dépôt et placement du Québec is a financial institution
that manages funds primarily for public and private pension and insurance
plans. It held $120.1 billion of net assets as at December 31, 2008. As one of
the leading institutional fund managers in Canada, the Caisse invests in the
main financial markets as well as in private equity and real estate. For more
For further information:
For further information: Maxime Chagnon, (514) 847-5493