DBRS Discontinues Rating on DundeeWealth Preferred Shares

DBRS has today discontinued its Pfd-3 rating on the Preferred Shares, Series 1 of DundeeWealth Inc. (DundeeWealth or the Company). The rating has been Under Review with Positive Implications since the Bank of Nova Scotia announced its acquisition of DundeeWealth on November 23, 2010. The transaction closed on February 1, 2011.

Following a special meeting of the Company’s shareholders on September 7, 2011, a special resolution was passed that authorized the Company to redeem its Preferred Shares, Series 1 on September 8, 2011, which has now been completed.

Simultaneously, the Company announced that it would be redeeming its outstanding 5.10% Series 1 Notes due September 25, 2014 (the Notes) on October 7, 2011, in accordance with their terms. At that time, DBRS will discontinue its current BBB (UR-Positive) rating on the Notes and the associated Issuer Rating.

Note:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodology is Rating Canadian Mutual Fund Companies, which can be found on our website under Methodologies.