National Bank of Canada: Rating Report

On April 29, 2022, DBRS Limited (DBRS Morningstar) upgraded the ratings of National Bank of Canada and its related entities, including the Bank’s Long-Term Issuer Rating to AA from AA (low) and Short-Term Issuer Rating to R-1 (high) from R-1 (middle). Additionally, DBRS Morningstar changed the trends on all ratings to Stable from Positive.