RE: RE: S&P is negative on HCG Below is the English version of the news. Not really very enlightening. They pretty much trimmed the outlook on the whole financial sector but at least for now, their basic rating on HCG is still at BBB (long) / A2 (short) where it was raised to in Dec 2010. I like the fact that reporters now lump them in with the banks. Hopefully the analysts start thinking that way as well.
Standard & Poor's Ratings Services has cut its outlook from stable to negative on seven Canadian banks, over concerns about unsustainably high home prices and consumer debt levels, according to published reports Friday.
The Wall Street Journal said the New York debt-rating firm cut the credit ratings of Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, National Bank of Canada, Laurentian Bank of Canada, Home Capital Group Inc. and