Bank of Montreal's U.S. Dollar-Denominated NVCC Subordinated Additional Tier 1 Capital Notes Rated 'BBB-' - S&P Global Ratings’ Credit Research

Bank of Montreal's U.S. Dollar-Denominated NVCC Subordinated Additional Tier 1 Capital Notes Rated 'BBB-'

Bank of Montreal's U.S. Dollar-Denominated NVCC Subordinated Additional Tier 1 Capital Notes Rated 'BBB-' - S&P Global Ratings’ Credit Research
Bank of Montreal's U.S. Dollar-Denominated NVCC Subordinated Additional Tier 1 Capital Notes Rated 'BBB-'
Published Jul 23, 2019
4 pages (1669 words) — Published Jul 23, 2019
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

TORONTO (S&P Global Ratings) July 23, 2019--S&P Global Ratings today said it assigned its 'BBB-' issue-level rating to Bank of Montreal's (BMO; A+/Stable/A-1) U.S. dollar-denominated non-viability contingent capital (NVCC) subordinated additional Tier 1 Capital notes issuance. In accordance with our criteria for hybrid and other capital instruments, the rating reflects our analysis of the proposed instrument, and our assessment of BMO's 'a' stand-alone credit profile (SACP). (For more information, see "General Criteria: Hybrid Capital: Methodology And Assumptions," published July 1, 2019, on RatingsDirect.) The 'BBB-' issue-level rating stands four notches below the BMO SACP, incorporating: A deduction of one notch, the minimum downward notching from the SACP under our criteria for subordinated debt, reflecting contractual subordination; A deduction of two

  
Brief Excerpt:

...Bank of Montreal's U.S. Dollar-Denominated NVCC Subordinated Additional Tier 1 Capital Notes Rated '###-'...

  
Report Type:

Ratings Action

Ticker
BMO@CN
Issuer
Bank of Montreal
GICS
Diversified Banks (40101010)
Sector
Global Issuers, Public Finance, Structured Finance
Country
Canada
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bank of Montreal's U.S. Dollar-Denominated NVCC Subordinated Additional Tier 1 Capital Notes Rated 'BBB-'" Jul 23, 2019. Alacra Store. May 03, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bank-of-Montreal-s-U-S-Dollar-Denominated-NVCC-Subordinated-Additional-Tier-1-Capital-Notes-Rated-BBB-2269155>
  
APA:
S&P Global Ratings’ Credit Research. (). Bank of Montreal's U.S. Dollar-Denominated NVCC Subordinated Additional Tier 1 Capital Notes Rated 'BBB-' Jul 23, 2019. New York, NY: Alacra Store. Retrieved May 03, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bank-of-Montreal-s-U-S-Dollar-Denominated-NVCC-Subordinated-Additional-Tier-1-Capital-Notes-Rated-BBB-2269155>
  
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