Moody’s Investors Service has assigned RBC Dexia Investor Services a provisional Aa3 rating with a stable outlook. RBC says that, in allocating the Aa3 rating, Moody’s factored in the strong commitment and support of RBC (rated Aa2/B+) and Dexia (rated Aa2/B).
Moody’s also noted that RBC Dexia Investor Services will have a diversified client and revenue base, a predictable earnings profile, and good risk-adjusted profitability indicators, plus sound liquidity.
Moody’s assigns a provisional rating when it is highly likely that the rating will become final following a conclusive review of the transaction.
“This favourable rating is indicative of the strong financial fundamentals that support the proposed transaction,” says an RBC spokesman. “Upon closing, RBC Dexia Investor Services will rank among the world’s top ten global custodians and will offer a complete range of investor services to institutions around the world.”