CHICAGO--(BUSINESS WIRE)--Fitch Ratings has assigned an 'AA' rating to Royal Bank of Canada, Sydney Branch's Australian Dollar senior unsecured notes.
The rating is equalized with the ratings of The Royal Bank of Canada (RY), which was last affirmed on Jan. 23, 2015 following Fitch's Canadian Bank peer review.
The Royal Bank of Canada, Sydney Branch is a branch of RY. As such, senior unsecured issuances of the Royal Bank of Canada, Sydney Branch would rank pari passu with other senior unsecured issuances of RY.
KEY RATING DRIVERS
Senior Unsecured Debt
Royal Bank of Canada, Sydney Branch's senior debt ratings are equalized with the long-term ratings of RY, currently with a long-term Issuer Default Rating (IDR) of 'AA'.
RATING SENSITIVITIES
Senior Unsecured Debt
Royal Bank of Canada, Sydney Branch's ratings are sensitive to any changes in the Issuer Default Rating (IDR) of RY.
Fitch has assigned the following rating:
Royal Bank of Canada, Sydney Branch
--Long-tern senior unsecured debt 'AA'.
Additional information is available on www.fitchratings.com
Applicable Criteria
Global Bank Rating Criteria (pub. 20 Mar 2015)
https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=863501
Additional Disclosures
Dodd-Frank Rating Information Disclosure Form
https://www.fitchratings.com/creditdesk/press_releases/content/ridf_frame.cfm?pr_id=990224
Solicitation Status
https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=990224
Endorsement Policy
https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31
ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.