Manulife Bank of Canada: Rating Report

On September 24, 2020, DBRS Morningstar upgraded the long-term ratings of Manulife Bank of Canada (Manulife Bank or the Bank) to AA (low) from A (high) and confirmed the Bank’s short-term ratings at R-1 (middle). The trends on all ratings are Stable. The Support Assessment (SA) remains at SA1, which reflects the expectation of timely internal support from The Manufacturers Life Insurance Company (MLI or the Parent; rated AA with a Stable trend by DBRS Morningstar).