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DBRS downgrades Aimia
DBRS said it downgraded Aimia Inc.’s issuer rating and senior secured debt rating to BBB (low) and its preferred shares rating to Pfd-3 (low). The trends are all stable.
The agency said the rating action reflects a deterioration in Aimia’s earnings profile caused by a number of developments that DBRS believes will lead to a decline in operating income over the near to medium term.
The stable trends reflect the agency’s view that Aimia will begin to grow its earnings off the new baseline based on the strength of its brands and relationships with key commercial partners.
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