DBRS Places Concentra Financial Services Association’s R-1 (low) rating on Under Review Negative

DBRS has today placed Concentra Financial Services Association’s R-1 (low) Short-Term Instruments rating on Under Review with Negative Implications following a decision to change Concentra’s Support Assessment of SA1 to either an SA2 or an SA3. The SA1 had looked to Credit Union Central of Saskatchewan as the supporting organization.

The review will finalize the correct support assessment and intrinsic ratings for Concentra. These building blocks will translate into the final rating. The Under Review – Negative action reflects our preliminary view that without the benefit of an SA1, it will be difficult for Concentra to remain in the R-1 (low) category.

Notes:
The applicable methodologies are Rating Canadian Provincial Credit Union Centrals, Credit Unions and Desjardins Group, and Enhanced Methodology for Bank Ratings – Intrinsic and Support Assessments, which can be found on our website under Methodologies.

This is a Corporate (Financial Institutions) rating.