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Investor Relations
Debt Ratings

Royal Bank of Canada
Credit Ratings

  Moody's S&P DBRS Fitch
Senior Debt Aaa AA- AA AA
Subordinated Debt Aa1 A+ AA(low) AA-
Covered Bonds Aaa AAA AAA AAA
Short-term Debt P-1 A-1+ R-1(high) F1+
Financial Strength B+ -- -- --
Individual Rating -- -- -- A/B
Rating Outlook Negative Stable Stable Stable

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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03/17/2008 15:05:48