Fitch Rates Royal Bank of Canada, Sydney Branch's Senior Unsecured Note Issuance 'AA'
The rating is equalized with the ratings of The Royal Bank of Canada (RY), which was last affirmed on Jan. 23, 2015 following Fitch's Canadian Bank peer review.
The Royal Bank of Canada, Sydney Branch is a branch of RY. As such, senior unsecured issuances of the Royal Bank of Canada, Sydney Branch would rank pari passu with other senior unsecured issuances of RY.
KEY RATING DRIVERS
Senior Unsecured Debt
Royal Bank of Canada, Sydney Branch's senior debt ratings are equalized with the long-term ratings of RY, currently with a long-term Issuer Default Rating (IDR) of 'AA'.
RATING SENSITIVITIES
Senior Unsecured Debt
Royal Bank of Canada, Sydney Branch's ratings are sensitive to any changes in the Issuer Default Rating (IDR) of RY.
Fitch has assigned the following rating:
Royal Bank of Canada, Sydney Branch
--Long-tern senior unsecured debt 'AA'.
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