DBRS Finalizes Provisional Rating on iA Financial Corporation Inc.’s Subordinated Debt at BBB (high), Stable

DBRS Limited (DBRS) finalized its provisional rating of BBB (high) with a Stable trend on iA Financial Corporation Inc.’s Subordinated Debentures.

Following the review of documentation associated with the recent offering, DBRS confirmed that the terms of the issuance are consistent with those reviewed at the time the provisional rating was assigned on September 19, 2019. For further details on the provisional rating, please see the DBRS press release titled “DBRS Assigns Provisional Rating to iA Financial Corporation Inc.’s Subordinated Debt of BBB (high), Stable.”

The aggregate gross proceeds from the Subordinated Debt totaled $400 million. Proceeds from the issuance will be used for general business purposes.

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

The applicable methodology is Global Methodology for Rating Life and P&C Insurance Companies and Insurance Organizations (September 2019), which can be found on our website under Methodologies & Criteria.

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found on the issuer page at www.dbrs.com.

The rated entity or its related entities did participate in the rating process for this rating action. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.

For more information on this credit or on this industry, visit www.dbrs.com.

Lead Analyst: Komal Rizvi, Vice President, Canadian FIG & Insurance
Rating Committee Chair: Roger Lister, Managing Director, Chief Credit Officer

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