Fitch Rates Bank of New York Mellon Affiliate's IDR 'AA-'.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 Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has assigned ratings to The Bank of New York Mellon The Bank of New York Mellon Corporation (NYSE: BK), is a global financial services company formed on 1 July 2007 as result of the merger of The Bank of New York and Mellon Financial Corporation. (Ireland) Limited, (BNYMIL), an Ireland-based bank subsidiary of Bank of New York Mellon Corporation (BK) as follows: Bank of New York Mellon (Ireland) Limited -- 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. ) 'AA-'; -- Short-term IDR `F1+'; -- Long-term deposits `AA-'; -- Short-term deposits `F1+'; -- Support Rating `1'. The Rating Outlook is Stable. BNYMIL, a newly-licensed bank, conducts corporate trust activities in Ireland for BK. Fitch considers the balance sheet low risk, with client deposits raised through corporate trust activities and held in short-term obligations of other BK entities and in high quality liquid investments issued by nonaffiliated organizations. Fitch has assigned IDRs equivalent to those of the ultimate parent BK, and deposit ratings are also based on the parent's IDRs. The activities conducted by BNYMIL are tightly integrated into BK's core global corporate trustee businesses. Risk management and oversight functions are also tightly integrated with BK's global framework. Due to the extremely high probability of support from parent BK, a support rating of `1' is assigned. Additional information is available at 'www.fitchratings.com'. ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP HTTP in full HyperText Transfer Protocol Standard application-level protocol used for exchanging files on the World Wide Web. HTTP runs on top of the TCP/IP protocol. ://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, 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 WEBSITE '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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