Moody’s gives Bank of Montreal notes Baa3

Moody’s Investors Service said it assigned a Baa3 (hyb) rating to Bank of Montreal’s issuance of additional tier 1 (AT1) limited recourse notes.

“The rating on the AT1 limited recourse notes is positioned three notches below the a3 adjusted baseline credit assessment (adjusted BCA) of BMO, in accordance with Moody’s standard additional notching guidance for contractual non-viability perpetual securities,” the agency said in a press release.

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