Event
DBRS Hosts Canadian Banks Teleconference at 11:00 a.m. Today; Change in Call-In Number
- Conference Call
-
- Financial Institutions
- Banks & Trusts
- Credit Unions & Building Societies
- Non-Bank Financials
- Toronto
- Jun 30, 2009
- 11:00 a.m. ET
Details
DBRS will hold a teleconference today at 11:00 a.m. on yesterday’s downgrade of the preferred shares and innovative Tier 1 instruments ratings of the Canadian banks it rates. The downgrades reflect the revision of DBRS’s views on external support as it relates to preferred shares and the elevated risk of non-payment of preferred dividends relative to the risk of default indicated by senior debt ratings. Brenda Lum, Managing Director of Canadian Financial Institutions, Kent Wideman, Chief Credit Officer, and Robert Long, Vice President, will address how changes to DBRS’s global banking methodology affect the ratings.
NOTE: THE CALL-IN DETAILS HAVE CHANGED. PLEASE SEE THE NEW NUMBERS BELOW.
The teleconference will feature a slide presentation entitled “Canadian Banks: Downgrade of Preferred Shares & Tier 1 Innovative Instruments”. The presentation will be available on the DBRS website at 10:30 a.m.
Ms. Lum, Mr. Wideman and Mr. Long will be available for a Q&A following the conference call.
Interested callers should dial the appropriate number listed below at least five minutes before the 11:00 a.m. call time.
Date and Time: Tuesday, June 30, 2009, at 11:00 a.m. ET
Local Callers: 416-695-7806, quoting passcode: 1861831
Toll Free Callers: 888-789-9572, quoting passcode: 1861831
A replay will be available for one week following the teleconference. Details will be made available at a later date.