DBRS Assigns Provisional Rating to Laurentian’s Non-Viability Contingent Capital Subordinated Debt of BBB (low), Stable

DBRS Limited (DBRS) has today assigned a provisional rating of BBB (low) with a Stable trend to Laurentian Bank of Canada’s (LBC or the Bank) Non-Viability Contingent Capital (NVCC) Subordinated Debt.

DBRS assigned the NVCC Subordinated Debt a rating equal to that of the Bank’s Intrinsic Assessment less three rating notches, as the NVCC Subordinated Debt has only an Office of the Superintendent of Financial Institutions (OSFI)-compliant NVCC trigger, which is consistent with the OSFI requirements for NVCC instruments, and no additional triggers.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found on the issuer page at www.dbrs.com.

The applicable methodology is Global Methodology for Rating Banks and Banking Organizations (May 2017), which can be found on the DBRS website under Methodologies.

Lead Analyst: Maria-Gabriella Khoury
Rating Committee Chair: Michael Driscoll