Friday, February 27, 2009

S&P Puts Caisse's AAA Credit Rating Under Review

From The CBC:

Quebec premier blames Opposition for politicizing pension fund problems.

Quebec's pension fund manager is starting to feel the consequences of last year's financial losses.

In the fallout to the $39.8-billion loss for 2008 reported by the Caisse de dépôt et placement du Québec this week, the Standard and Poor's bond rating service has placed the organization's credit rating under review.

The AAA rating will remain on credit watch with negative implications for the next three months.

S&P officials said the move was prompted by last year's losses and the instability within the Caisse's management team.

Read more ....

Update: Marois says finance minister should have called Caisse managers -- CTV

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