...TORONTO (S&P Global Ratings) June 15, 2017--S&P Global Ratings said today that its ratings on Home Capital Group Inc. (HCG)(B-/Watch Dev/B) and Home Trust Co. (B-/Watch Dev/B) are unaffected by the recent announcement that the company has reached two agreements that together comprise a global settlement with the Ontario Securities Commission (OSC) and with respect to the putative class action commenced in February 2017 relating to allegations of misleading disclosure. While we view the recent announcement as a positive step toward potential rehabilitation of the company's franchise, we remain cautious given the uncertainties surrounding its effect on the confidence and faith of depositors and shareholders. Since our last rating action on May 2, 2017, we believe that the continued outflows in HCG's deposit funding and deteriorating liquidity levels continue to constrain the firm's franchise position. On June 14, 2017, the company provided an update on liquidity and deposits, indicating that...
