National Bank of Canada's Tier 1 Non-Cumulative Five-Year Reset First Preferred Shares Series 30 Rated 'BBB-/P-2(Low)' - S&P Global Ratings’ Credit Research

National Bank of Canada's Tier 1 Non-Cumulative Five-Year Reset First Preferred Shares Series 30 Rated 'BBB-/P-2(Low)'

National Bank of Canada's Tier 1 Non-Cumulative Five-Year Reset First Preferred Shares Series 30 Rated 'BBB-/P-2(Low)' - S&P Global Ratings’ Credit Research
National Bank of Canada's Tier 1 Non-Cumulative Five-Year Reset First Preferred Shares Series 30 Rated 'BBB-/P-2(Low)'
Published Jan 29, 2014
Published Jan 29, 2014
Price US$ 150.00  |  Buy this Report Now

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Abstract:

TORONTO (Standard&Poor's) Jan. 29, 2014--Standard&Poor's Ratings Services today said it assigned its 'BBB-' global scale and 'P-2(Low)' Canada scale ratings to National Bank of Canada's (NBC) proposed Tier 1 non-cumulative five-year reset first preferred shares series 30. The issuer credit rating on NBC is A/Stable/A-1. "In accordance with our criteria for hybrid capital instruments, the ratings reflect our analysis of the proposed instrument, and our assessment of NBC's 'a-' stand-alone credit profile," said Standard&Poor's credit analyst Thomas Connell. (For more information, see "Bank Hybrid Capital Methodology And Assumptions," published Nov. 1, 2011, on RatingsDirect). The 'BBB-' rating stands three notches below the stand-alone credit profile (SACP), incorporating: A deduction of two notches, the minimum

  
Report Type:

Ratings Action

Ticker
NA@CN
Issuer
National Bank of Canada
GICS
Diversified Banks (40101010)
Sector
Global Issuers, Structured Finance
Country
Canada
Region
United States
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "National Bank of Canada's Tier 1 Non-Cumulative Five-Year Reset First Preferred Shares Series 30 Rated 'BBB-/P-2(Low)'" Jan 29, 2014. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/National-Bank-of-Canada-s-Tier-1-Non-Cumulative-Five-Year-Reset-First-Preferred-Shares-Series-30-Rated-BBB-P-2-Low-1251748>
  
APA:
S&P Global Ratings’ Credit Research. (). National Bank of Canada's Tier 1 Non-Cumulative Five-Year Reset First Preferred Shares Series 30 Rated 'BBB-/P-2(Low)' Jan 29, 2014. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/National-Bank-of-Canada-s-Tier-1-Non-Cumulative-Five-Year-Reset-First-Preferred-Shares-Series-30-Rated-BBB-P-2-Low-1251748>
  
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