TORONTO, April 27 /CNW/ - Today, CIBC Mellon Trust Company announced that
DBRS Limited has assigned it a short-term deposit rating of R-1 (middle) and
long-term debt rating of AA (low), both with stable trends.
"We are pleased with this superior rating and CIBC Mellon remains
well-capitalized with a strong tier 1 capital ratio," said Thomas C.
MacMillan, president and chief executive officer, CIBC Mellon Trust Company.
"This along with our proven risk management procedures and strong governance
have allowed us to remain well positioned and to deliver exceptional client
service. Although we have no plans to issue debt under the short-term rating,
this second rating satisfies client demand that we be double rated."
Moody's Investors Service had previously assigned an issuer rating Aa2 to
CIBC Mellon Trust Company in July 2008, citing the company's excellent
standing in its primary Canadian market (asset servicing and issuer services).
CIBC Mellon is 50-50 jointly owned by Canadian Imperial Bank of Commerce
and The Bank of New York Mellon Corporation. CIBC Mellon Global Securities
Services Company is a leading provider of financial services for institutions
and corporations, providing superior asset servicing, multicurrency
accounting, information delivery, securities lending and foreign exchange
services in Canada. CIBC Mellon is part of The Bank of New York Mellon, which
has US$19.5 trillion in assets under custody and administration and more than
$881 billion in assets under management. CIBC Mellon Global Securities
Services Company is a sister company to CIBC Mellon Trust Company.
For further information:
For further information: Rashi Sharma, manager, corporate
communications, CIBC Mellon, (416) 643-6562