CI Financial Requests Morningstar DBRS to Withdraw Credit Ratings
12 Septembre 2024 - 1:05AM
Business Wire
CI Financial Corp. (“CI”) (TSX: CIX) announces that it has asked
Morningstar DBRS to withdraw its issuer credit rating and debenture
ratings on CI and its debt.
The request is the result of Morningstar DBRS’s ratings
methodology which relies on IFRS metrics and does not incorporate
adjustments that CI believes necessary to appropriately reflect the
company’s underlying results and financial condition. Under the
rating agency’s methodology, large swings (double digit) in CI’s
leverage ratio have occurred over short time periods.
Following CI’s request to withdraw the ratings, Morningstar DBRS
has indicated that it will continue its ratings on CI on an
unsolicited basis. CI management is no longer engaging with
Morningstar DBRS and any unsolicited ratings are based solely on
publicly available information.
About CI Financial
CI Financial Corp. is a diversified global asset and wealth
management company operating primarily in Canada, the United States
and Australia. Founded in 1965, CI has developed world-class
portfolio management talent, extensive capabilities in all aspects
of wealth planning, and a comprehensive product suite. CI manages,
advises on and administers approximately $511.3 billion in client
assets (as at July 31, 2024). CI operates in three segments:
- Asset Management, which includes CI Global Asset Management,
which operates in Canada, and GSFM, which operates in
Australia.
- Canadian Wealth Management, which includes the operations of CI
Assante Wealth Management, Aligned Capital Partners, CI Private
Wealth, Northwood Family Office, Coriel Capital, CI Direct
Investing and CI Investment Services.
- U.S. Wealth Management, which includes Corient Private Wealth,
an integrated wealth management firm providing comprehensive
solutions to ultra-high-net-worth and high-net-worth clients across
the United States.
CI is headquartered in Toronto and listed on the Toronto Stock
Exchange (TSX: CIX). To learn more, visit CI’s website or LinkedIn
page.
CI Global Asset Management is a registered business name of CI
Investments Inc., a wholly owned subsidiary of CI Financial
Corp.
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version on businesswire.com: https://www.businesswire.com/news/home/20240911396654/en/
Investor Relations Jason Weyeneth, CFA Vice-President,
Investor Relations & Strategy 416-681-8779 jweyeneth@ci.com
Media Relations Canada Murray Oxby Vice-President, Corporate
Communications 416-681-3254 moxby@ci.com United States Jimmy Moock
Managing Partner, StreetCred 610-304-4570 jimmy@streetcredpr.com
ci@streetcredpr.com
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