Moody’s trims CI Financial

Moody's Ratings said it downgraded the long-term issuer and senior unsecured debt ratings of CI Financial Corp. to Baa3 from Baa2.

The outlook remains stable.

The ratings downgrade reflects CI's elevated acquisition-related liabilities and share repurchase activities, resulting in a persistently high debt leverage no longer commensurate with its previous ratings level, Moody's said in a news release.

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