Rating On National Bank of Canada's Senior Notes Due 2026 Corrected To 'BBB+' From 'A' - S&P Global Ratings’ Credit Research

Rating On National Bank of Canada's Senior Notes Due 2026 Corrected To 'BBB+' From 'A'

Rating On National Bank of Canada's Senior Notes Due 2026 Corrected To 'BBB+' From 'A' - S&P Global Ratings’ Credit Research
Rating On National Bank of Canada's Senior Notes Due 2026 Corrected To 'BBB+' From 'A'
Published Mar 05, 2024
2 pages (1081 words) — Published Mar 05, 2024
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

TORONTO (S&P Global Ratings) March 5, 2024--S&P Global Ratings has corrected its rating on National Bank of Canada's €1 billion floating-rate senior notes due March 6, 2026, to 'BBB+' from 'A'. On March 4, 2024, we assigned an incorrect rating to the notes; we should have rated them 'BBB+'. This error correction brings the rating on the issue into line with our ratings on bail-in-able debt. General Criteria: Hybrid Capital: Methodology And Assumptions, March 2, 2022 Criteria Financial Institutions General: Financial Institutions Rating Methodology, Dec. 9, 2021 Criteria Financial Institutions Banks: Banking Industry Country Risk Assessment Methodology And Assumptions, Dec. 9, 2021 General Criteria: Environmental, Social, And Governance Principles In Credit Ratings, Oct. 10, 2021 General

  
Brief Excerpt:

...March 5, 2024 TORONTO (S&P Global Ratings) March 5, 2024--S&P Global Ratings has corrected its rating on National Bank of Canada's 1 billion floating-rate senior notes due March 6, 2026, to '###+' from 'A'. On March 4, 2024, we assigned an incorrect rating to the notes; we should have rated them '###+'. This error correction brings the rating on the issue into line with our ratings on bail-in-able debt....

  
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:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Rating On National Bank of Canada's Senior Notes Due 2026 Corrected To 'BBB+' From 'A'" Mar 05, 2024. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Rating-On-National-Bank-of-Canada-s-Senior-Notes-Due-2026-Corrected-To-BBB-From-A-3134493>
  
APA:
S&P Global Ratings’ Credit Research. (). Rating On National Bank of Canada's Senior Notes Due 2026 Corrected To 'BBB+' From 'A' Mar 05, 2024. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Rating-On-National-Bank-of-Canada-s-Senior-Notes-Due-2026-Corrected-To-BBB-From-A-3134493>
  
US$ 150.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Residential Mortgage-Backed Securities from one place.