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Silver Standard to sue DBRS

August 11, 2008 @ 11:16 am In Silver Company News

The Peterborough Examiner reportsĀ Silver Standard hasĀ 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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