Silver Standard to sue DBRS
The Peterborough Examiner reports Silver Standard has filed a lawsuit against DBRS.
Silver Standard bought the investments, known as assetbacked commercial paper, or ABCP, though six different trusts on the advice of its bank and investment adviser, Vancouver based HSBC Bank Canada.
They were rated “R-1 high” by Dominion Bond Rating Service.
A month and two days after it made its last investment, the ABCP market — worth $33 billion in Canada — froze.
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Mon, Aug 11, 2008
Post by Melissa Pistilli, Silver Senior Reporter