RBC's Canadian Asset-Backed Commercial Paper Programs receive
highest rating from Moody's
TORONTO, December 19, 2007 — Moody's Investors
Services today assigned a P-1 rating to the asset-backed commercial
paper ("ABCP") issued by the three Canadian multi-seller
conduits administered by RBC. Plaza Trust, PURE Trust, and
Storm King Funding were all awarded Moody's highest short-term
rating.
The Moody's rating complements these conduits' existing R-1(high)
rating from Dominion Bond Rating Service. Having multiple
ratings on the ABCP issued by the RBC-administered conduits
is consistent with the Bank's goal of meeting global standards
for the highest quality programs.
"We have great confidence in the quality of the assets
in our ABCP programs and are pleased to see that Moody's has
assigned its highest short-term rating to our conduits,"
said Nick Lewis, head of RBC Capital Markets' Canadian conduit
programs. "We look forward to receiving additional third
party ratings in the coming months, which we hope will reinforce
our clients' comfort with the quality of their commercial
paper holdings with RBC's Canadian conduits."
RBC's long term rating is Aaa, its short-term rating is Prime-1,
and its bank financial strength rating is B+.
For more details about Moody's rating of RBC ABCP programs,
please go to Moody's web site at www.moodys.com.
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Media contact:
Beja Rodeck, (416) 974-5506
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