The Caisse de dépôt et placement du Québec responds to Standard & Poor’s update

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The Caisse de dépôt et placement du Québec has taken note of the research update by Standard & Poor’s placing the institution’s AAA long-term issuer credit rating on “credit watch with negative implications” for the next three months, on the basis of the information available to it. The AAA long-term rating is the highest in Canada. The agency specified that it may or may not revise it downward at the end of the credit-watch period. The Caisse stated that it would work closely with the agency to provide it with the requested information on the reasons given, namely senior management stability, the Caisse’s strategy for handling the current investment climate, risk management and the institution’s independence vis-à-vis the government. The agency also stated, “We continue to believe the Caisse’s ability to meet all its financial obligations is strong.” The agency also said it did not expect to change the Caisse’s A-1+ rating for short-term borrowing. Yesterday, the agency DBRS issued a press release confirming the Caisse’s solid credit profile. 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. As at December 31, 2008, it held $120.1 billion of net assets. 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 false false false