Moody’s Investors Service has assigned a bank financial strength rating of B- and a long-term issuer rating of Aa2 to CIBC Mellon Trust Co.

It assigning the rating, Moody’s cited the company’s excellent standing in its primary Canadian market (asset servicing and issuer services), robust governance discipline, excellent capitalization, a lack of material credit risk, and an operations and technology platform, available through its relationship with The Bank of New York Mellon, that allows CIBC Mellon to benefit from economies of scale and service.

“These ratings provide our clients with assurances of our strong and effective approaches to governance, risk, and control. The ratings also recognize our strong relationship with our parents, and specifically, our ability to offer unmatched, world class solutions to the Canadian market,” says Thomas MacMillan, president and chief executive officer of CIBC Mellon.

CIBC Mellon Trus is 50 – 50 jointly owned by CIBC and The Bank of New York Mellon Corp.