Global Credit Pref Corp.
TSX : GPA.PR.A

Global Credit Pref Corp.
Gatehouse Capital Inc.

Gatehouse Capital Inc.

November 17, 2008 08:36 ET

Global Credit Pref Corp.: Rating Announcement

TORONTO, ONTARIO--(Marketwire - Nov. 17, 2008) - Standard & Poor's Ratings Services lowered the rating of Global Credit Pref Corp.'s (TSX:GPA.PR.A) preferred shares to P-5 on November 14 and they remain on CreditWatch with negative implications. The rating on the preferred shares of Global Credit Pref Corp. mirrors the lowering of the rating on the $48,031,000 fixed-rate static portfolio credit linked note issued by The Toronto-Dominion Bank to CCC Watch/Neg.

The Company has exposure to the credit linked note issued by The Toronto-Dominion Bank and held by Global Credit Trust, the return on which is linked to the credit performance of 124 reference entities.

The preferred shares are listed for trading on the Toronto Stock Exchange under the symbol GPA.PR.A.

Contact Information