Fitch Affirms National Bank of Canada's IDR at 'A+'; Outlook Stable.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Fitch affirms the long-term Issuer Default Rating (IDR IDR In currencies, this is the abbreviation for the Indonesian Rupiah. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) of National Bank of Canada This article is about a commercial bank. For Canada's central bank, see Bank of Canada. National Bank of Canada (Banque Nationale du Canada) TSX: NA is the sixth largest bank in Canada, and so is one of the Big Six banks. (NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. ) at 'A+' and the short-term rating at 'F1'. The Rating Outlook is Stable. A complete list of ratings follows at the bottom of this press release. Ratings of NBC consider its leading franchise in Quebec and sound financial fundamentals, including steady profitability, modest asset quality problems, and comfortable capital position. NBC reported solid profits for fiscal-year (FY) 2005 and through 1H06. In recent years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time level of gross impaired loans has improved significantly to low current levels. Loan loss reserves continue to well exceed gross impaired loans and capital measures remain comfortably above regulatory requirements. For the rest of FY2006, steady to improving earnings are expected along with low asset quality problems. To date, appreciation of the Canadian Dollar has had only a modest effect on credit quality, but substantial further strengthening could have a more meaningful impact. In the event of significantly higher interest rates, asset quality problems could rise from currently low levels. Given its solid financial position, NBC has ample capacity to absorb potential problems. Fitch has affirmed the following ratings with a Stable Outlook: National Bank of Canada --Long-term Issuer Default Rating (IDR) at 'A+'; --Short-term rating at 'F1'; --Senior debt at 'A+'; --Subordinated debt at 'A'; --Preferred stock at 'A'; --Short-term deposits at 'F1'; --Individual at 'B'; --Support at '2'. National Bank of Canada New York Branch --US$ Commercial Paper at 'F1'; --Short-term rating at 'F1'. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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