Research Update: Royal Bank of Canada Outlook Revised To Stable From Positive On Uncertain Economic Outlook; 'AA-' Rating Affirmed Oct 11
Standard & Poors, October 2011
Abstract
We are revising the outlook on Royal Bank of Canada to stable from positive for a potential upgrade based on our expectations that a weaker Canadian economic recovery will provide more challenging operating conditions than had previously been expected. We are affirming our 'AA-/A-1+' counterparty credit ratings on RBC and related entities. On Oct. 6, 2011, Standard & Poor's Ratings Services revised its outlook on Royal Bank of Canada (RBC) to stable from positive on reduced expectations that future operating outperformance will provide sufficient grounds for an upgrade in the near term. Standard & Poor's also affirmed its ratings on the bank and related entities, including its 'AA-' long-term and 'A-1+' short-term counterparty credit ratings. The stable outlook incorporates our...
Companies mentioned in this report are:
- Royal Bank of Canada
- Royal Trust Corp. of Canada
- The Royal Trust Co.
- Royal Bank of Canada (NY Branch)
- Royal Bank of Canada Insurance Co. Ltd.
- RBC Capital Trust
- Royal Bank Canada London
- RBC Capital Trust II
- RBC Investor Services Ltd.
- RBC Subordinated Notes Trust
Action: Affirmed
Action: Outlook: Stable
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 key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- Royal Bank of Canada
- Royal Trust Corp. of Canada
- The Royal Trust Co.
- Royal Bank of Canada (NY Branch)
- Royal Bank of Canada Insurance Co. Ltd.
- RBC Capital Trust
- Royal Bank Canada London
- RBC Capital Trust II
- RBC Investor Services Ltd.
- RBC Subordinated Notes Trust
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