NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has assigned senior unsecured debt and deposit ratings of A+ and a short-term rating of K1 for Canadian Imperial Bank of Commerce (“CIBC” or the “Bank”)(NYSE:CM), a Canadian-based global financial institution. The outlook on all ratings is stable.
The ratings of Canadian Imperial Bank of Commerce are supported by the Bank’s sound financial fundamentals as indicated by improving asset quality, healthy capital levels, and stable earnings trends. These strengths are balanced by concerns surrounding the continued low interest rate environment, CIBC’s reliance on wholesale funding, and relatively high cost to income ratio compared to peers.
The ratings are based on KBRA’s Global Bank and Bank Holding Company Rating Methodology, published on January 28, 2015.
To view the report, please use the following link: Canadian Imperial Bank of Commerce Rating Report
About Kroll Bond Rating Agency
KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).
