DBRS Rates Sumitomo Mitsui Banking Corporation, Canada Branch’s BDN Programme

DBRS Ratings Limited (DBRS) has assigned a short-term rating of R-1 (middle), Negative trend, to the Bank Deposit Notes (BDN) Programme of Sumitomo Mitsui Banking Corporation, Canada Branch (SMBC Canada Branch). The programme is established as of 1st November, 2016.

DBRS rates SMBC Canada Branch’s long-term deposits & senior debt at A (high), and short-term instruments at R-1 (middle). The trend on all ratings is Negative, in line with the Sovereign rating of Japan.

Notes:
All figures are in JPY unless otherwise noted.

The principal applicable methodology is the Global Methodology for Rating Banks and Banking Organisations (July 2016). Other applicable methodologies include the DBRS Criteria: Support Assessments for Banks and Banking Organisations (March 2016) and DBRS Criteria: Rating Bank Capital Securities – Subordinated, Hybrid, Preferred & Contingent Capital Securities (February 2016). These can be found can be found at: http://www.dbrs.com/about/methodologies

The sources of information used for this rating include SNL Financial and company documents. DBRS considers the information available to it for the purposes of providing this rating to be of satisfactory quality.

This rating concerns a newly issued financial instrument.

DBRS does not audit the information it receives in connection with the rating process, and it does not and cannot independently verify that information in every instance.

Generally, the conditions that lead to the assignment of a Negative or Positive Trend are resolved within a twelve month period. DBRS’s outlooks and ratings are under regular surveillance

For further information on DBRS historical default rates published by the European Securities and Markets Authority (“ESMA”) in a central repository, see:
http://cerep.esma.europa.eu/cerep-web/statistics/defaults.xhtml.

Ratings assigned by DBRS Ratings Limited are subject to EU regulations only.

Lead Analyst: Elisabeth Rudman
Rating Committee Chair: William Schwartz

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