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DBRS upgrades Home Capital Group's ratings

DBRS upgraded the ratings of Home Capital Group Inc. to reflect the speed of the Toronto-based company's progress in recovering from its liquidity crisis in 2017.

DBRS upgraded Home Capital's long-term issuer rating and long-term senior debt rating to BB (low) from B and upgraded the short-term issuer rating and short-term instruments to R-4 from R-5. DBRS also upgraded the long-term ratings of Home Capital's primary operating subsidiary, Home Trust Co., to BB from BB (low) and confirmed the short-term rating at R-4.

The rating agency revised the trend on all ratings to positive from stable, with the exception of the trends on Home Capital's short-term ratings, which remain stable.