DBRS upgrades BNY Mellon

DBRS said it upgraded most of the ratings of Bank of New York Mellon Corp., including the company’s long-term issuer rating to AA from AA (low).

DBRS also upgraded the ratings of its primary banking subsidiary, the Bank of New York Mellon to AA (high) from AA.

“The upgrade reflects BNY Mellon’s track record of stable, predictable and favorable results, as well as its low risk, strong balance sheet, which DBRS Morningstar expects to be sustained going forward. As a result, BNY Mellon performs well in times of stress and even benefits from a deposit flight to quality, which augments an already very liquid balance sheet. DBRS Morningstar also views BNY Mellon’s franchise as having the broadest, deepest product set of the trust banks, enhancing its diversification,” said DBRS in a press release.

The trend is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.