Please Note
We brought you to this page based on your search query. If this isn't what you are looking for, you can continue to Search Results for ""
The maximum number of items you can export is 3,000. Please reduce your list by using the filtering tool to the left.

Accessibility for Ontarians with Disabilities Act, 2005

  • Moody’s Canada Inc. is committed to providing accessible customer service to our clients with disabilities in a way that respect their dignity and independence. Our objective is to comply with the customer service requirements of the Accessibility for Ontarians with Disabilities Act, 2005.

    A copy of our Accessible Customer Service Policy can be obtained by emailing


View Open Positions at Moody’s Canada by clicking below.

Moody's Careers

Key Contacts

Donald Carter
Managing Director

Barbara Macpherson
Senior Vice-President

Moody's in Canada
High Yield
How to Get Rated
  • March 26, 2021

    Moody’s rates Intact Financial’s $250 million subordinated convertible notes at Baa3(hyb)

    Moody's Investors Service, ("Moody's") has assigned a Baa3(hyb) rating to CAD250 million of 2081 fixed-to-fixed rate subordinated convertible notes (the Notes) being issued by Intact Financial Corporation (Intact – Baa1 senior). Intact expects to use the net proceeds from the offering to fund part of its purchase of the Canadian, UK and International operations of RSA Insurance Group plc (RSA) for CAD5.8 billion. The company expects to complete the transaction in the second quarter of 2021, pending regulatory approvals. Moody's has also assigned provisional ratings to Intact's shelf registration that was filed by the company on 13 December 2019. The outlook for Intact is unchanged at stable.
  • March 25, 2021

    Moody's upgrades Suncor Energy Ventures to Baa3; outlook positive

    Moody's Investors Service (Moody's) upgraded Suncor Energy Ventures Corporation's (SEV) senior unsecured notes rating to Baa3 from Ba1. The outlook was changed to positive from stable. The Ba1 corporate family rating (CFR) and Ba1-PD probability of default rating were withdrawn
  • March 23, 2021

    Moody's downgrades CP Rail to Baa2 Stable on KCS acquisition

    Moody's Investors Service, ("Moody's") downgraded Canadian Pacific Railway Company's ("CP") senior unsecured ratings to Baa2 from Baa1 following the announcement that its parent, Canadian Pacific Railway Limited, has agreed to acquire Kansas City Southern ("KCS") for approximately $29 billion, the funding of which includes raising approximately $8.6 billion in debt. CP's commercial paper rating has been affirmed at Prime-2 and its outlook remains stable.
Moody’s Investors Service has been providing Canada’s investors and issuers wit​h the highest quality rating service since 1901. Today, Moody’s rates more than 300 Canadian corporate, structured, and public finance issuers.

Moody’s Toronto-based analysts cover a variety of Industry sectors including financial institutions, media and telecommunications, oil and gas, power and gas utilities and pipelines, paper and forest products, sub-sovereign governments, project & infrastructure finance and structured finance.

Moody’s provides Canadian fixed income professionals with a variety of products and services, including credit analyses, regular analyst briefings, seminars and conferences. Moody’s experience — both locally and globally — means that products and services are tailored to meet its customers’ needs while at the same time ensuring internationally consistent ratings. ​​

This tab contains ratings and comprehensive research information regarding Canadian high yield issuers and Moody’s corporate speculative grade analysis.

Moody's covenant quality snapshots deliver succinct analysis of the strengths and weaknesses of a bond's protection package. The User’s Guide to Moody’s Covenant Quality Snapshots is intended to help readers of snapshots make full use of their summaries and analyses:
A User’s Guide to Moody’s Covenant Quality Snapshots
Moody’s Covenant Quality Snapshots for Canadian Issuers
Moody’s Pre-Closing Loan Covenant Quality Snapshots

Moody’s has analyzed and assessed the covenant quality of about one thousand bonds that were issued over the past two years globally. The following report includes a company-by-company comparison of Canadian high yield bonds’ covenant strength based on Moody’s Covenant Quality Assessments:
The Canadian High Yield Bond Market: Frequently Asked Questions
Canadian Corporations: Canadian High-Yield Bonds Continue to Offer More Protection Than US Issues
Canadian High-Yield Bonds Offer More Investor Protection Than US Bonds

The following report summarizes how Moody’s rates and analyzes nonfinancial speculative-grade issuers in the Canadian market:
High Yield Insights for Canadian Investors

Moody’s systematically monitors, assesses and reports on speculative-grade issuers’ liquidity through its Speculative-Grade Liquidity Ratings (SGL):
Speculative-Grade Liquidity Ratings: Component Scores Provide Liquidity Insight
Moody’s Speculative-Grade Liquidity ratings factor in four components of liquidity:

1. internal sources of cash
2. committed external sources of cash
3. ability to comply with covenants
4. other sources of liquidity, including the issuer’s ability to sell assets to raise cash

The list below provides the Component Scores of Moody’s Speculative-Grade Liquidity Ratings:
SGL Ratings & Component Score List   

At 1,000 defaults, Moody’s recoveries database highlights the importance of debt structure and the normalcy of the latest default cycle:
Moody's Ultimate Recovery Database

The primary rating methodologies for the application of Moody’s Loss Given Default (LGD) Methodology for non-financial companies:
Loss Given Default for Speculative-Grade Non-Financial Companies in the U.S., Canada and EMEA/Probability of Default Ratings and Loss Given Default Assessments for Low Rated Non-Financial Companies in the US, Canada and EMEA Region

Current rating news and relevant research items on corporate speculative grade analysis and Canadian corporate high yield issuers are available on the link below:
High Yield Research Reports

For more information, please reference the complete How to Get Rated.

For information on Moody's Ratings Symbols and Definitions, please visit Moody's Ratings Definitions.