• +353-1-415-1241(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
RBC Bank (USA) Downgraded To 'BBB' From 'A-' On Group Status Change; Outlook Negative Product Image

RBC Bank (USA) Downgraded To 'BBB' From 'A-' On Group Status Change; Outlook Negative

  • Published: May 2011
  • Region: United States
  • Standard & Poors

Abstract
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)
Action: Downgraded

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify READ MORE >

RBC Bank (USA)

Note: Product cover images may vary from those shown

RELATED PRODUCTS