DBRS Confirms BlueShore Financial’s Positive Credit Rating at BBB (High)
VANCOUVER, British Columbia--(BUSINESS WIRE)--Jul 12, 2018--DBRS Limited (DBRS) has assigned BlueShore Financial Credit Union a Long-Term Issuer Rating of BBB (high) and a Short-Term Issuer Rating of R-1 (low). The trend on all ratings is Stable.
BlueShore Financial was assigned a Support Assessment (SA) of SA2. This reflects DBRS’ expectation of timely systemic external support from the Province of British Columbia (the Province; rated AA (high)/R-1 (high) with Stable trends by DBRS) through Central 1 Credit Union (Central 1; rated A (high)/R-1 (middle) with Stable trends by DBRS), particularly in the form of liquidity.
“The evaluation and resulting favourable credit rating from DBRS, a reputable international third-party credit rating agency, are further affirmation of BlueShore’s financial stability and strong business strategy,” said Chris Catliff, President and CEO, BlueShore Financial.
In determining the ratings, DBRS considered BlueShore’s franchise strength, earnings power, risk profile, funding and liquidity, and capitalization. According to DBRS, BlueShore Financial Credit Union has a strong and growing franchise in the affluent districts across the Greater Vancouver Area (GVA). In DBRS’ opinion, BlueShore’s niche branding strategy and mid-market private banking expertise are a source of competitive strength and represent significant barriers to entry.
With over $5.5 billion in assets under administration, BlueShore Financial serves more than 40,000 clients in B.C. across the Lower Mainland and Sea-to-Sky Corridor.
About BlueShore Financial
BlueShore Financial is a boutique financial institution providing a full range of personal and business banking, wealth management, insurance and commercial lending solutions. With 12 branches across the Lower Mainland and Sea-to-Sky Corridor, BlueShore Financial helps clients achieve financial wellness ® through personalized solutions and expert advice, delivered in a unique Financial Spa ® branch environment. BlueShore Financial manages over $5.5 billion in assets under administration, is consistently ranked among the top financial planning firms in Metro Vancouver, and has been named one of Canada’s Best Small and Medium Employers seven years in a row. As an Imagine Canada Caring Company, BlueShore Financial contributes at least 1% of pre-tax profits annually to charities and not-for-profit organizations within the communities it serves. BlueShore Financial is the operating name of BlueShore Financial Credit Union. To learn more about the BlueShore Financial difference, watch this video.
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CONTACT: BlueShore Financial
Armita Seyedalikhani, 604-983-4584
Director, Communications & Corporate Affairs
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY PROFESSIONAL SERVICES FINANCE OTHER PROFESSIONAL SERVICES COMMUNICATIONS MARKETING
SOURCE: BlueShore Financial
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PUB: 07/12/2018 01:35 PM/DISC: 07/12/2018 01:35 PM