CDP financial’s credit ratings affirmed by Moody's

The Caisse de dépôt et placement du Québec is pleased with the recent credit report issued by Moody’s. The rating agency has affirmed the Aaa long-term and Prime-1 short-term credit ratings of CDP Financial and has maintained its “stable outlook”. These ratings are the highest assigned by the agency.

“It’s excellent news for the Caisse that Moody’s has affirmed CDP Financial’s credit ratings,” stated Michael Sabia, President and Chief Executive Officer of the Caisse. “It reflects the strength of our institution and its ability to meet its financial obligations. This news comes in addition to the affirmations in recent months by DBRS and Standard & Poor’s of the highest credit ratings with a stable outlook.” 

In July, Standard & Poor’s assigned a “stable outlook” to its AAA credit rating on the Caisse and its subsidiary CDP Financial Inc. In its report, it said it was impressed with the progress made by the Caisse, notably measures to stabilize the management team as well as its risk management efforts.

In June, Dominion Bond Rating Services (DBRS) also affirmed the Caisse’s AAA credit rating as well as the R-1 (high) short-term rating and the AAA long-term rating of its subsidiary CDP Financial, with a stable outlook.

About the Caisse de dépôt et placement du Québec
The Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. It held $120.1 billion of net assets as at December 31, 2008. As one of the leading institutional fund managers in Canada, the Caisse invests in the main financial markets as well as in private equity and real estate. For more information: www.cdpq.com.