Commerce Bancshares, Inc. continues to report stable earnings, solid capital levels, strong asset quality metrics, and an above-average funding profile. We are affirming our 'A' long-term issuer credit ratings on the operating company, Commerce Bank, N.A., and our 'A-' long-term issuer credit ratings on the holding company, Commerce Bancshares, Inc. We are also assigning short-term local and foreign currency ratings of 'A-1' to Commerce Bank, N.A. The outlook is stable and reflects our view that the company will continue to operate profitably without taking excessive risks, while maintaining high capital levels over the next 12 to 24 months. On Oct. 14, 2016, S&P Global Ratings affirmed its 'A' long-term issuer credit ratings on Commerce Bank, N.A. and its 'A-' long-term
