DBRS Assigns New Rating of AAA to State Street Corp’s FDIC Guaranteed Issuance of Senior Notes

DBRS has today assigned a new rating of AAA to State Street’s $1.5 billion issuance of 2.15% senior unsecured notes due April 30, 2012. The Notes are being issued pursuant to a Preliminary Prospectus Supplement dated March 21, 2006. The AAA ratings are based on the explicit guarantee provided by the Federal Deposit Insurance Corporation (FDIC) Temporary Liquidity Guarantee Program (TLGP), which is backed by the full faith and credit of the United States. Under the TLGP, the FDIC guarantees payment of qualifying debt issued by eligible U.S. bank holding companies, such as State Street Corporation.

The AAA rating reflects DBRS’s opinion as to the guarantor’s ability to honor the guarantee as determined by internal assessment of the sovereign. All other debt ratings, including State Street Corporation’s AA (low) Issuer & Senior Debt rating, remain at their current levels. All long-term non-guaranteed ratings remain on Negative Trend where they were placed on January 21, 2009.

Note:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating Banks and Bank Holding Companies Operating in the United States which can be found on our website under Methodologies.

This is a Corporate (Financial Institutions) rating.