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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 any time by a rating agency.
| Moody’s | S&P | DBRS | Fitch | |
|---|---|---|---|---|
| Counterparty/Deposits1 | Aa1 | AA– | AA (high) | AA |
| Legacy Senior Debt2 | Aa1 | AA– | AA (high) | AA |
| Senior Debt3 | A1 | A | AA | AA- |
| Covered Bonds | Aaa | – | AAA | AAA |
| NVCC Subordinated Debt | A3(hyb) | A– | A | A |
| Subordinated Debt | A3 | A | AA (low) | A |
| NVCC Preferred Shares | Baa2(hyb) | BBB | Pfd-2 (high) | BBB+ |
| Preferred Shares | Baa2 | BBB+ | Pfd-1 (low) | BBB+ |
| Short-term Debt | P-1 | A-1+ | R-1 (high) | F1+ |
| Rating Outlook | Stable | Stable | Stable | Stable |
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1)Represents Moody's Counterparty Risk Rating and Deposit Rating, S&P's Issuer Credit Rating, DBRS' Long Term Deposit Rating and Fitch's Derivative Counterparty Rating and Long Term Deposit Rating
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2)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
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3)Subject to conversion under the Canadian bank recapitalization "bail-in" regime
Additional Resources
2025 Third Quarter Financial Information
Get financial highlights and a snapshot of recent performance in RBC at a Glance or access the detailed Investor Presentation.