Counterparty Credit Rating: AA-/Negative/A-1+ Standard&Poor's today said that Bank of Montreal's announced plans to increase and extend its current share repurchase program to a maximum of 52 million common shares (9.9% of its public float as at Jan. 3, 2001) from a maximum of 30 million common shares would not affect the ratings or outlook on the bank. The effect of the increase on the Bank of Montreal's share buyback program will be offset by the buildup of capital derived from the sale of Bancomer, the net decline in the bank's risk-weighted assets, and the planned purchase of First National Bank of Joliet and Guardian Group of Funds with bank stock. The impact of this transaction on the
