DBRS Assigns Provisional Rating of BBB with a Stable Trend to Coast Capital’s Subordinated Debt

DBRS Limited (DBRS) assigned a provisional rating of BBB with a Stable trend to Coast Capital Savings Credit Union’s (Coast Capital or the Credit Union) Subordinated Debt.

DBRS assigned the Subordinated Debt a rating that is one notch below the Credit Union’s Long-Term Issuer Rating of BBB (high), as the obligation is unsecured and subordinated to Coast Capital’s deposits and any unsecured Long-Term Senior Debt.

Notes:
The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found on the issuer page at www.dbrs.com.

The applicable methodology is Global Methodology for Rating Banks and Banking Organisations (May 2017), which can be found on our website under Methodologies.

Lead Analyst: Maria-Gabriella Khoury, Vice President, Canadian Financial Institutions Group
Rating Committee Chair: Roger Lister, Managing Director, Chief Credit Officer, Global FIG and Sovereign Ratings

The rated entity or its related entities did participate in the rating process for this rating action. DBRS had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.

For more information on this credit or on this industry, visit www.dbrs.com.