Fitch rates Schwab notes A

Fitch Ratings said it assigned an A rating to Charles Schwab Corp.'s issuances of $500 million of floating-rate senior unsecured notes maturing in May 2026, $1 billion of fixed- rate senior unsecured notes maturing in May 2026, and $750 million of fixed-rate senior unsecured notes maturing in May 2031.

Schwab’s long-term issuer default rating is A with a stable outlook. “The senior unsecured debt rating is equalized with Schwab's viability rating (VR) of a, reflecting average recovery prospects under a stressed scenario,” Fitch said in a press release.

Proceeds are expected to be used for general corporate purposes, which Fitch said it believes could include providing added capital to its bank subsidiaries to support balance sheet growth and the redemption of other debt maturing later this year.

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