Sunstream Opportunities LP Receives Investment Grade Credit Rating

Rhea-AI Summary

Sundial Growers (NASDAQ: SNDL) announced that its affiliate, Sunstream Opportunities LP, received a BBB+ investment grade credit rating from Egan-Jones Ratings Company. This rating reflects Sunstream's robust credit portfolio, which includes over CAD$375 million in investments. Zach George, CEO of Sundial, highlighted this achievement as a testament to the company's strong performance. Egan-Jones is a recognized credit rating provider, though a securities rating may be subject to revision. Sundial operates in cannabis production, retail, and investment sectors, focusing on premium cannabis products and strategic capital deployment.

Positive

• Sunstream Opportunities LP received an investment grade rating of BBB+ from Egan-Jones Ratings Company.
• The credit rating reflects a strong track record with over CAD$375 million in investments.

Negative

• None.

CALGARY, AB, Jan. 24, 2022 /PRNewswire/ - Sunstream Opportunities LP, an affiliate of Sunstream Bancorp Inc., a joint venture sponsored by Sundial Growers Inc. (NASDAQ: SNDL) ("Sundial"), has been assigned an investment grade rating of BBB+ by Egan-Jones Ratings Company, an independent, unaffiliated rating agency.

"The investment grade credit rating assigned from Egan-Jones is a testament to the strong track record of Sunstream Opportunities LP's existing credit portfolio, which comprises over CAD$375 million of investments thus far," said Zach George, CEO of Sundial.

Egan-Jones is a Nationally Recognized Statistical Ratings Organization and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider. A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

About Sundial Growers Inc. 

Sundial is a public company with its shares traded on Nasdaq under the symbol "SNDL". Our business is reported and analyzed under three operating segments: Cannabis Operations, Cannabis Retail and Investments. 

As a licensed producer that crafts small-batch cannabis using state-of-the-art indoor facilities, our 'craft-at-scale' modular growing approach, award-winning genetics and experienced growers set us apart. Sundial's brand portfolio includes Top Leaf, Sundial Cannabis, Palmetto and Grasslands. Sundial also operates the Spiritleaf retail banner. Spiritleaf aims to be the most knowledgeable and trusted source of recreational cannabis by offering a premium consumer experience and quality curated cannabis products. 

Our investment operations seek to deploy strategic capital through direct and indirect investments and partnerships throughout the global cannabis industry. 

We are proudly Albertan, headquartered in Calgary, AB, with operations in Olds and Rocky View County, Alberta, Canada. For more information on Sundial, please go to www.sndlgroup.com.

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SOURCE Sundial Growers Inc.

FAQ

What is the significance of the BBB+ rating assigned to Sunstream Opportunities LP?

The BBB+ rating signifies an investment grade credit rating, indicating a strong credit portfolio and financial stability.

Who assigned the investment grade rating to Sunstream Opportunities LP?

The investment grade rating was assigned by Egan-Jones Ratings Company, an independent credit rating agency.

What does Sundial Growers focus on in their business operations?

Sundial Growers operates in cannabis production, retail, and investments, emphasizing premium cannabis products and strategic capital deployment.

What is the stock symbol for Sundial Growers?

The stock symbol for Sundial Growers is SNDL, and it is traded on Nasdaq.