Dundee Corporation Discontinues Arrangements With Credit Rating Services
December 07 2012 - 5:01PM
Marketwired
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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