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  "documentTitle": "Canadian Tire Corporation (CTC.A)",
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  "presentationDate": "2019-12-05 00:00:00",
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      "text": "No search results for \"Material Contracts\" filled by CTC on Sedar. Given Canadian Tire's dependence on leverage to fuel its business model, how are its credit agreements not \"Material\"",
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      "text": "CT REIT states they do not disclosure its Bank Credit Agreement despite being what we believe to be a common practice",
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      "text": "Why would a company with opaque disclosures want to take an answer about leverage ratios and capital structure offline?",
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      "text": "Given Canadian Tire's dependence on leverage to fuel its business model, how are its credit agreements not \"Material\"",
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      "text": "CT REIT 2016 Annual Information Report excerpt",
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      "text": "Canadian Tire and CT REIT do not disclose their credit agreements to investors and keeping their debt structures opaque. We believe this is a highly suspicious practice and makes us wonder why the Companies would not disclose these documents. CTC's capital structure secrecy is not new. In Q1'14, CTC's CFO would not respond on the record to an analyst's question about targeted capital structure and leverage ratios.",
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      "text": "I think maybe we should take some of that offline. But I would say... And in terms of the detail, Irene, I think it's better to do that offline with you, if that's okay. — Dean McCann, CFO, Q1 2014 Call",
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      "text": "Earnings call transcript between Irene Nattel and Dean McCann",
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      "text": "Lack Of Disclosure Around Credit Agreements",
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