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Debt Investors

Debt Investors

Review Royal Bank of Canada Credit Ratings, view the Fixed Income Presentation and get access to information on Covered Bonds.

Credit Ratings





Legacy Senior Debt(1) Aa2 AA- AA AA
Senior Debt(2) A2 A AA (low) AA
Covered Bonds Aaa - AAA AAA
NVCC Subordinated Debt Baa1 A- A (low) AA-
Subordinated Debt Baa1 A A (high) AA-
NVCC Preferred Shares Baa3 BBB Pfd-2 -
Preferred Shares Baa3 BBB+ Pfd-2 (high) -
P-1 A-1+ R-1 (high) F1+
Rating Outlook Stable Stable Positive Stable

1) Includes: (a) Senior debt issued prior to September 23, 2018; and (b) Senior debt issued on or after September 23, 2018 which is excluded from the bank recapitalization "bail-in" regime

2) Subject to conversion under the bank recapitalization "bail-in" regime

Credit ratings are not recommendations to purchase, sell or hold a financial position in as much as they do not comment on market price or suitability for a particular investor. Ratings are subject to revision or withdrawal at anytime by a rating agency.

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June 13, 2018

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Janice Fukakusa

Chief Administrative Officer and Chief financial Officer, RBC

Video: Janice Fukakusa