CIBC Mellon Trust Company announced that DBRS Limited has assigned it a short-term deposit rating of R-1 (middle) and long-term debt rating of AA (low), both with stable trends.
“We are pleased with this superior rating and CIBC Mellon remains well-capitalized with a strong tier 1 capital ratio,” says Thomas C. MacMillan, president and chief executive officer, CIBC Mellon Trust Company. “This along with our proven risk management procedures and strong governance have allowed us to remain well positioned and to deliver exceptional client service. Although we have no plans to issue debt under the short-term rating, this second rating satisfies client demand that we be double rated.”
Moody’s Investors Service had previously assigned an issuer rating Aa2 to CIBC Mellon Trust Company in July 2008, citing the company’s excellent standing in its primary Canadian market (asset servicing and issuer services).
D.C.