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Streetwise Streetwise newsletter: Analysts keeping watchful eye on corporate borrowing; Crypto exchange Quadriga files for creditor protection

Here are the top reads on deals and financial services over the last 24 hours,

Analysts keeping watchful eye on corporate borrowing: Credit-rating agencies are keeping a watchful eye on Canadian banks' commercial-loan books after eight straight years of rapid growth. Commercial lending has been an increasingly important source of new revenue for the banks as rising interest rates and stricter mortgage rules have led to slower growth in consumer borrowing. Story (James Bradshaw and Alexandra Posadzki, for subscribers)

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Crypto exchange Quadriga files for CCAA: Canada’s largest cryptocurrency exchange says it has applied for creditor protection as it seeks to address “significant financial issues” that have prevented it from being able to serve its customers. Story (Alexandra Posadzki, for subscribers)

Open Text announces $75-million deal to buy Colorado legal-tech company: Open Text Corp. keeps adding to its war chest even as it continues a string of smaller acquisitions – bolstered Thursday when the company announced it would buy Colorado legal-tech company Catalyst Repository Systems Inc. The deal is worth US$75-million in cash. But the Waterloo, Ont.-based software company’s chief executive, Mark Barrenechea, told The Globe and Mail that the company has another US$2-billion ready to deploy when the time was right, thanks in part to nearly US$600-million of cash and equivalents on hand, and an adjusted earnings-before-interest-tax-depreciation-and-amortization margin of 42 per cent. Story (Josh O’Kane, for subscribers)

Likely construction delays will mean Ottawa overpaid for Trans Mountain, PBO says: Parliament’s spending watchdog Yves Giroux warned there is a high risk that delays and cost overruns will mean the Liberal government overpaid when it spent $4.4-billion last year to purchase the Trans Mountain pipeline, its related expansion project and other assets. In a report released Thursday, the Parliamentary Budget Officer estimates the value of the Trans Mountain pipeline and the expansion project at between $3.6-billion and $4.6-billion. Story (Bill Curry, for subscribers)

Brookfield to acquire Australia’s Healthscope in $4-billion deal: Australian hospital operator Healthscope Ltd said on Friday it had recommended a A$4.35-billion ($4.1-billion) takeover offer from Canadian investment firm Brookfield, taking its shares to an eight-month high. Story

MORE FINANCIAL SERVICES NEWS

Earnings: Mastercard Inc. joined rival Visa Inc. in reporting a bigger-than-expected quarterly profit, as a strong holiday season led to a surge in transactions on its payments network, sending its shares up 5 per cent before the bell. Story (for subscribers)

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If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

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