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North American Financial 15 Split Corp. Pref Shs T.FFN.PR.A

North American Financial 15 Split Corp. is a Canada-based mutual fund corporation, which invests in a portfolio of over 15 financial services companies. It offers two types of shares, such as Preferred Shares and Class A Shares. Its investment objectives with respect to preferred shares are to provide holders of preferred shares with cumulative preferential monthly cash dividends in the amount of over 5.5% annually and to pay the holders of the preferred shares a certain price per preferred share on or about the termination date. Its investment objectives with respect to class A shares are to provide holders of class A shares with regular monthly cash distributions and to permit holders to participate in all growth in the net asset value of the Company for a specific price per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying a specific price per preferred share. Its investment manager is Quadravest Capital Management Inc.


TSX:FFN.PR.A - Post by User

North American Financial 15 Split Corp. Pref Shs
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Post by WalkingonNailson Jul 03, 2023 10:42am
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Post# 35524747

DBRS Rating for FFN preferred

DBRS Rating for FFN preferredNoticed on the Quadravest website FFN preferred shows the following rating:

  • Pfd-4 (high) DBRS Rating - February 2023

    So I found the definition of this rating on another website as per paste below, is this accurate? I don't think
    this preferred fund is "Speculative or Not investment grade"?
     

    Pfd-4(High)
    Pfd-4
    Pfd-4(Low)    		 P-4(High)
    P-4
    P-4(Low)    		 B+
    B
    B-    		 Speculative: Substantial credit risk, and are speculative in nature. The protection of dividend and principal is uncertain, but especially so during times of economic adversity. Companies with preferred shares rated Pfd-4 generally coincide with entities that have senior bond ratings ranging from the lower end of the BBB category through the BB category.

     

    Not investment grade.

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