Standard and Poor's assigns a "stable outlook" to its AAA credit rating on the Caisse de dépôt et placement du Quebec

In a report made public today, the rating agency Standard & Poor’s assigned a “stable outlook” to its AAA credit rating on the Caisse and its subsidiary CDP Financial Inc. The AAA long-term rating is the highest assigned by Standard & Poor’s.

In February the rating agency placed the Caisse’s AAA rating “with negative implications.” Today it has changed its assessment from “with negative implications” to a “stable outlook.”

In its report, Standard & Poor’s says it is impressed with the progress made to date by the Caisse. The agency stresses, among other things, the Caisse’s measures to stabilize the management team and its risk management efforts. It also believes the Caisse’s ability to meet its financial obligations is extremely strong.

“This decision by Standard & Poor’s is especially important to the Caisse in a context in which many financial institutions have been downgraded by the credit rating agencies,” stated Michael Sabia, President and Chief Executive Officer.

In June, Dominion Bond Rating Services (DBRS) 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.