Fitch Affirms National Bank of Canada's Ratings at 'A+/F1'; Outlook Stable

(The following statement was released by the rating agency)
NEW YORK, October 28 (Fitch) Fitch Ratings has affirmed National
Bank of
Canada’s (NBC) long- and short-term Issuer Default Ratings
(IDRs) at ‘A+’ and
‘F1’, respectively. The Rating Outlook is Stable. A full list of
rating actions
follows at the end of this release.
This rating action follows Fitch’s periodic review of the
Canadian Banks Peer
Group, which includes Bank of Montreal (BMO), Bank of Nova
Scotia (BNS),
Canadian Imperial Bank of Commerce (CIBC), Caisse Centrale
DesJardins (CCD),
National Bank of Canada (NBC), Royal Bank of Canada (RBC) and
Toronto-Dominion
Bank (TD).
Company-specific rating rationales for the other banks are
published separately.
For further discussion of the Canadian Banks sector, please
refer to the special
report titled ‘Canadian Bank Peer Review’ at
www.fitchratings.com.
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