RBC's Canadian asset backed commercial paper programs receive highest rating from Moody's

    TORONTO, Dec. 19 /CNW/ - 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.

For further information:

For further information: Media contact: Beja Rodeck, (416) 974-5506

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