PRESS DIGEST- Canada - Sept 15
Sept 15 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
THE GLOBE AND MAIL
** Moody's Investors Service slashed Teck Resources Ltd's credit to junk status, citing weak commodity prices along with the miner's spending on its oil sands joint venture. The downgrade to speculative or junk status is a blow to the Vancouver-based miner, whose two main businesses - copper and metallurgical coal - have suffered from the steep drop in prices. (bit.ly/1QexQtb)
** SNC-Lavalin Group Inc is parting ways with its chief executive officer as the Canadian engineering giant puts faith in a new leader who it says can better drive earnings after several unsteady quarters. Robert Card has agreed to step down as CEO after a three-year tenure. He'll be replaced by current chief operating officer Neil Bruce as of Oct. 5.(bit.ly/1QexWBd)
** The Ontario Liberals are on the verge of launching their initial public offering for Hydro One, proving they are wasting little time post-Labour Day to market the deal to investors. The massive offering, expected to be worth C$2.25 billion, is one step closer to reality now that the full underwriting syndicate has been chosen, according to people familiar with the deal. (bit.ly/1QeGPe0) Continued...