Credit Ratings

CIBC's current debt ratings are listed below. The ratings should not be construed as a recommendation to buy, sell, or hold CIBC debt instruments. Ratings may be revised or withdrawn at any time by the rating agencies.

CREDIT RATINGS

DBRS

MOODY'S

STANDARD & POOR'S

FITCH

DEPOSIT OR COUNTERPARTY1View terms and conditions

AA

Aa2

A+

AA

LEGACY SENIOR DEBT2View terms and conditions

AA

Aa2

A+

AA

COVERED BONDS

NR

Aaa

NR

AAA

SENIOR DEBT3View terms and conditions

AA (low)

A2

A-

AA-

SUBORDINATED

A (high)

Baa1

A-

A

SUBORDINATED - NVCC

A (low)

Baa1

BBB+

A

PREFFERED SHARES - NVCC

Pfd-2

Baa3

P-2 (L)

N/A

SHORT-TERM DEBT

R-1 (high)

P-1

A-1

F1+

OUTLOOK

Stable

Stable

Stable

Stable