Fitch Rates National Bank of Canada's C$500MM Medium-Term Notes 'A'.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 an 'A' rating to National Bank of Canada's C$500 million series 4 medium-term notes (subordinated debt Subordinated Debt A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings. Also known as "junior security" or "subordinated loan". ). The 15-year issue carries a Nov. 2, 2020 maturity date. Interest on the series 4 medium-term notes will be paid semi-annually at 4.70% per annum until Nov. 2, 2015 and thereafter will be equal to the 90-day Bankers' Acceptance Rate plus 1% and will be payable quarterly. Proceeds from the issue will be used for general corporate purposes. All the other ratings of the bank remain unchanged. Rating assigned: -- Series 4 medium-term notes (subordinated debt) 'A'; -- Rating Outlook Stable. 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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