CIBC's Stock Price Influenced by Health of Monolines

Financial Post, Duncan Mavin, 8 February 2008Canadian Imperial Bank of Commerce has about $2.6-billion exposed to the latest monoline insurer to find itself in trouble, reckons Blackmont Capital analyst Brad Smith. SCA Ltd � which saw its credit ratings slashed by Moody�s Investors Service on Thursday � is one of a number of monolines that have provided financial guarantees to CIBC�s book of