Dye & Durham Ltd. DND-T stock hit an all-time low Friday after S&P Global Ratings and Moody’s Ratings cut their credit ratings on the real estate software company, citing its high debt, rising costs and weak earnings in a subdued Canadian residential housing market.

Both agencies also flagged concerns about Toronto -based D&D’s continuing leadership and governance issues following consecutive costly shareholder activist campaigns.

“Governance is a key driver of the rating action, which is influenced by management turnover, ongoing shareholder activism, delayed filing of fiscal 2025 financial statements” plus an investigation by the Competition Bureau into alleged anti-competitive behaviour, Moody’s said Thursday as it cut D&D’s rating by a notch, to B3 from B2. Moody’s increased it

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