Fitch affirms RBC

Fitch Ratings said it affirmed Royal Bank of Canada's long-term and short-term issuer default ratings at AA and F1+, respectively. The outlook is stable.

This action follows Fitch's periodic review of the Canadian banks peer group.

The stable outlook incorporates Fitch's recognition of persistent tail risks to the Canadian banking system, the agency said.

These include elevated levels of household and corporate debt, vulnerability to global trade tensions and structural weaknesses in the Canadian oil sector, Fitch said.

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