DBRS confirms Power Financial

DBRS said it confirmed Power Financial Corp.'s AA (low) senior debt rating and Pfd-1 (low) preferred shares rating.

The trend remains stable.

The agency said the financial strength of Power Financial is largely derived from its controlling interests in two of Canada's leading financial service providers: Great-West Lifeco Inc. and IGM Financial Inc. These two holdings provide the company with stable recurring earnings and dividends while providing it with diversification by product, distribution channels and geography, DBRS said.

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