DBRS Discontinues Rating of Class I and Class II Cumulative Preferred Shares Issued by Split Yield Corporation

DBRS has today discontinued the ratings of the 5.5% Class I Cumulative Preferred Shares (the Class I Preferred Shares) and the 7.0% Class II Cumulative Preferred Shares (the Class II Preferred Shares) issued by Split Yield Corporation (the Company). On February 1, 2012, all outstanding Class I and Class II Preferred Shares were redeemed. The final redemption prices were $19.00 and $0.005 for the Class I and II Preferred Shares, respectively, which resulted in losses to the holders of the Class I and Class II Preferred Shares on their principals. The Class I and Class II Preferred Shares have been delisted from the Toronto Stock Exchange.

Note:
The applicable methodology is Rating Canadian Split Share Companies and Trusts, which can be found on our website under Methodologies.