Flaherty & Crumrine Investment Grade Fixed Income Fund Provides Ratings Update

TORONTO, ONTARIO--(Marketwired - Nov. 28, 2017) - (TSX:FFI.UN) - Standard & Poor's ("S&P") announced on November 27, 2017 that the credit rating for Flaherty & Crumrine Investment Grade Fixed Income Fund (the "fund") has been lowered from P-2f to P-2(low)f. P-2(low)f constitutes an investment-grade credit rating.

Brompton Funds Limited (the "Manager") and Flaherty & Crumrine Incorporated (the "Portfolio Manager") are of the view that this ratings action represents a change in the fund credit rating methodology applied by S&P, and does not reflect a deterioration in credit quality of the Fund's portfolio or a change in investment approach. The Manager and the Portfolio Manager intend to continue the Fund's long-term approach to credit selection and risk management, with the goal of maintaining a stable stream of monthly income for investors and to preserve net asset value per unit.

The Fund has generated an annual compound return of 10.0% for the 5 year period ending October 31, 2017 and 7.9% per annum over a 10 year period.¹ The current distribution rate equates to $0.96 per unit per annum which represents a distribution yield of 7.3% per annum based on the November 27, 2017 TSX closing price.²

About Brompton Funds
Brompton Funds, a division of Brompton Group which was founded in 2000, is an experienced investment fund manager with approximately $2 billion in assets under management. Brompton's investment solutions include TSX traded funds, mutual funds, and flow-through limited partnerships. For further information, please contact your investment advisor, call Brompton's investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email [email protected] or visit our website at www.bromptongroup.com.

_{1) Source: Thomson Reuters, Bloomberg, Brompton}

You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment fund on the Toronto Stock Exchange or other alternative Canadian trading platform (an "exchange"). If the shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying shares of the investment fund and may receive less than the current net asset value when selling them.

There are ongoing fees and expenses associated with owning shares of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in the public filings available at www.sedar.com. The indicated rates of return are historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account certain fees such as redemption costs or income taxes payable by any securityholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.