DBRS confirms PSP Capital notes

DBRS said it confirmed the issuer rating of the Public Sector Pension Investment Board (PSPIB) at AAA and confirmed the ratings of the notes issued by PSP Capital Inc.

The medium-term notes were confirmed at AAA, the Canadian short-term promissory notes at R-1 (high) and the U.S. commercial paper notes at R-1 (high).

The trend is stable.

The agency said the ratings are supported by PSPIB’s exclusive mandate to manage the assets of four depository pension plans, the role of Canada as sponsor of the plans, the high level of assets available to meet obligations, the strong liquidity position of PSPIB and a record of strong investment returns.

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