Research Update: National Bank of Canada 'A/A-1' Issuer Credit Ratings Affirmed; Outlook Is Stable Dec 11
Standard & Poors, December 2011
Abstract
Following a review of National Bank of Canada (National Bank) under Standard & Poor's revised bank criteria (published on Nov. 9, 2011), we have affirmed our 'A/A-1' long- and short-term issuer credit ratings on National Bank. The outlook is stable. The anchor for National Bank is 'a'. Our ratings on National Bank reflect its moderate business position, adequate capital and earnings, strong risk position, average funding, and adequate liquidity scores. Standard & Poor's expects National Bank will continue to demonstrate stable operating performance and capital adequacy as measured by Standard & Poor's risk-adjusted capital ratio, supported by strong asset quality. As we previously announced, on Dec. 13, 2011, Standard & Poor's Ratings Services affirmed its 'A/A-1' long- and short-term issuer...
Companies mentioned in this report are: National Bank of Canada,NB Preferred Capital Corp.,National Bank of Canada Trust Capital Securities,NBC Asset Trust,National Bank of Canada (New York)
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.
National Bank of Canada,NB Preferred Capital Corp.,National Bank of Canada Trust Capital Securities,NBC Asset Trust,National Bank of Canada (New York)
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