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DBRS ups Prime Dividend preferreds
DBRS said it has upgraded the rating of the preferred shares issued by Prime Dividend Corp. to Pfd-3 (high) from Pfd-3.
The company issued 2.2 million of the preferreds in November 2005.
DBRS noted that the redemption date was originally Dec. 1, 2012, but was extended to Dec. 1, 2018 after holders of 96.1% of the company’s class A shares and 90.2% of the preferred shares voted in favor of the extension in November 2011.
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