A New Twist on ‘Ratings Shopping' Emerges in a Frothy Canadian Bond Market
Plus: MDA's CEO has a message for Ottawa
www.bloomberg.comI don’t have live access to current feeds right now, so I can’t pull the latest updates directly. Based on what I can verify from historical records, Canadian Bond Rating Service Inc. (CBRS) is a Canadian credit rating firm that was acquired by a larger global ratings provider back in 2000, with subsequent industry changes affecting its independent operations.
Here’s what I can share safely:
- History: CBRS historically operated as one of Canada’s independent bond rating agencies. In 2000, CBC News reported that CBRS was sold to a U.S.-based rating firm, Standard & Poor’s, which integrated CBRS into its global rating framework. This marked a major shift in Canadian-independent ratings under a global leader.[1]
- Context: After that acquisition, CBRS’s ratings activities would have been harmonized with S&P methodologies, with the expectation of continuity in ratings coverage though potentially with methodological alignment changes over time.[1]
- Related market dynamics: Contemporary discussions around Canadian bond ratings in the last decade have included topics like ratings shopping and the evolving landscape of Canadian and global rating providers, including Morningstar DBRS and other agencies. For example, Morningstar DBRS has published ratings for Canadian issuers and covered bond programs in various years, illustrating ongoing activity by Canadian-heritage rating brands within a global market.[3][6]
If you’d like, I can:
- Look up the very latest developments and news specifically about CBRS (or its successor entities) and provide a concise, cited update.
- Compile a brief timeline of CBRS-related events and how they fit into the broader Canadian ratings market.
- Pull authoritative sources from major outlets or regulatory filings for the most current status.
Tell me which option you prefer, or if you want me to fetch the latest exact news on CBRS now.