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S&P lifts Quebec, Hydro-Quebec debt issues
S&P said it raised the rating on certain debt issues from the Province of Quebec and Hydro-Quebec to AA from A+.
The upgrades reflect the merger of the previous insurer of these issues, CIFG Holdings Inc. with Assured Guaranty Corp. in July 2016, S&P said.
As a result, Assured Guaranty is the insurer of these obligations and these issues are now rated in line with Assured Guaranty at AA, the agency said.
The debt was previously aligned with the A+ ratings on Quebec and Hydro-Quebec, S&P said.
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