S&P lowers RBC to stable

Standard & Poor's said it revised the outlook on Royal Bank of Canada to stable from positive on reduced expectations that future operating outperformance will provide sufficient grounds for an upgrade in the near term.

The agency also said it affirmed the ratings on the bank and related entities, including its AA- long-term and A-1+ short-term counterparty credit ratings.

The stable outlook incorporates expectations that the bank will maintain stable operating performance across a range of economic conditions, though lower growth prospects in Canada may weigh on short- to medium-term operating performance, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.