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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+ |
| Issuer rating2 | 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)Credit ratings applicable to long-term non-bail-inable senior unsecured debt
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3)Includes senior long-term debt which is subject to conversion under the Bail-in regime
Additional Resources
2026 Second Quarter Financial Information
Get financial highlights and a snapshot of recent performance in RBC at a Glance or access the detailed Investor Presentation.