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A sign is displayed in front of a home in Toronto in this December 15, 2009 file photo.
A sign is displayed in front of a home in Toronto in this December 15, 2009 file photo.
(Mike Cassese/Reuters)

Real estate darling Teranet troubled by debt

Monopolies on land registries should make for good business in a real estate boom, yet Teranet was just dealt a debt downgrade.

The company, which controls Ontario and Manitoba’s land registry systems, saw its debt downgraded by rating agency Standard & Poor’s to 'BBB' from 'BBB+.’ The new rating still classifies the debt as investment grade, but it suggests there is more uncertainty about the company’s future.