Credit Ratings

Canadian Tire Corporation, Limited, Glacier Credit Card Trust (“GCCT”) and CT REIT are rated by two independent credit rating agencies: DBRS Limited (“DBRS”) and S&P Global Ratings (“S&P”), which provide credit ratings of debt securities for commercial entities. GCCT is also rated by Fitch Ratings, Inc. (“Fitch”). 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. Rating categories range from highest credit quality (generally “AAA”) to default in payment (generally “D”).

DBRS and S&P confirmed the Company’s credit ratings in Q3 2016. In Q3 2016, S&P confirmed CT REIT’s credit ratings, while DBRS confirmed CT REIT’s credit ratings in Q1 2016. In Q2 2017, Fitch confirmed the rating for GCCT's asset-backed commercial paper program.

Credit rating summary DBRS S&P Fitch

Canadian Tire
Issuer rating BBB (high) BBB+ -
Medium-term notes BBB (high) BBB+ -
Trend or outlook Stable Stable -

Glacier Credit Card Trust
Public asset-backed commercial paper R-1 (high) (sf) ----- F1+ sf
Public asset-backed senior notes AAA (sf) AAA (sf) -
Public asset-backed subordinated notes A (sf) - Series 2015-1 & 2017-1
A (high) (sf) - Series prior to 2015
A (sf) - Series 2015-1 & 2017-1
A+ (sf) - Series prior to 2015

Issuer rating BBB (high) BBB+ -
Senior Unsecured Debentures BBB (high) BBB+ -
Trend or outlook Stable Stable -
Email Address *
Sign up to receive email updates *

Enter the code shown above.