Canadian Tire

Credit Ratings

Credit Ratings

A credit rating generally provides an indication of the risk that the borrower will not fulfill its full obligations in a timely manner with respect to both interest and principal commitments. Due to the establishment of a U.S. commercial paper program in 2019, Canadian Tire Corporation, Limited obtained a short-term rating from S&P Global Ratings (“S&P”) and Moody’s Investors Service (“Moody’s"). Long-term ratings are provided by DBRS Limited (“DBRS Morningstar”) and S&P. Ratings for long-term debt instruments range from highest credit quality (generally “AAA”) to default in payment (generally “D”). Ratings for short-term debt instruments range from A-1+ (S&P), P-1 (Moody’s), or F1+ (Fitch), representing the highest credit quality to C (S&P and Fitch), and not prime (Moody’s) for the lowest quality of securities rated.

Canadian Tire Corporation

 CREDIT RATINGS DBRS MorningstarS&P
Moody's
 U.S. Commercial paper - A-2P-2
 Issuer ratingBBB (high)
BBB+
-
 Medium-term notesBBB (high)
BBB+
-
 Trend or OutlookStable
Stable
-
 Last confirmedQ2 2019
Q2 2019
Q2 2019

CT REIT

LONG-TERM RATINGS DBRS Morningstar S&P
Issuer rating BBB (High) BBB+
Senior unsecured debentures BBB (High) BBB+
Trend or Outlook Stable Stable
Last confirmed Q1 2019 Q1 2019

Glacier Credit Card Trust

Glacier is a special purpose entity whose sole purpose is to purchase undivided co-ownership interests in a revolving pool of credit card receivables owing under selected Canadian Tire-branded Mastercard credit card accounts and Canadian Tire credit card accounts and to provide income to the beneficiary of the trust

Outstanding Series of Notes