The Canadian arm of Standard & Poor's Ratings Services has merged with Canadian Bond Ratings Service, giving the combined agency dominance in the country.

The deal has been in the works for the about four months and came about largely because CBRS was moving into a more global spectrum, while S&P wanted to expand its presence in Canada. The combined company will take on the S&P name, and have a total staff of 47 people, 25 of them analysts.

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