Research Update: RBC Bank (USA) Remains On CreditWatch Positive Following PNC Financial Services Group Announced Acquisition Oct 11
- Language: English
- Published: October 2011
- Region: United States
We are revising our view of RBC Bank (USA)'s group status to "non-strategically important" from "strategically important". We apply one notch of support to the stand-alone rating for being non-strategically important, and remove the previous three notches associated with the strategically important designation. As such, we are lowering our ratings on RBC Bank (USA), including the counterparty credit rating to 'BBB' from 'A-'. The outlook is negative. TORONTO (Standard & Poor's) May 10, 2011--Standard & Poor's Ratings Services today said it lowered its ratings on RBC Bank (USA), including its long-term counterparty credit rating to 'BBB' from 'A-'. The outlook is negative. The downgrade is based on our belief that RBC Bank's parent, Royal Bank of Canada (RBC; AA-/Positive/A-1+), has...
Companies mentioned in this report are: RBC Bank (USA)
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Research type: News
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