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Jul 25, 2008 |
CIBC Mellon Trust Company receives ratings from Moody's |
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Moody's Investors Service has assigned a bank financial strength rating of B- and a long-term issuer rating of Aa2 to CIBC Mellon Trust Company, citing the company's excellent standing in its primary Canadian market (asset servicing and issuer services), robust governance discipline, excellent capitalization, a lack of material credit risk, and an operations and technology platform, available through its relationship with The Bank of New York Mellon, that allows CIBC Mellon to benefit from economies of scale and service. "We are pleased that Moody's has recognized CIBC Mellon's financial performance, commitment and service offerings with a bank financial strength rating of B- and a long-term issuer rating of Aa2," said Thomas C. MacMillan, president and chief executive officer of CIBC Mellon. "These ratings provide our clients with assurances of our strong and effective approaches to governance, risk, and control. The ratings also recognize our strong relationship with our parents, and specifically, our ability to offer unmatched, world class solutions to the Canadian market."
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