Fixed Income Investors

Review BMO's current credit ratings

• Bank of Montreal

  table showing the bank of montreal’s credit ratings across different lines of business and different credit rating agencies

  	Moody's	S&PS & P	Fitch	DBRSD B R S
  Long Term Deposits / Legacy Senior Debt (1)Long Term Deposits / Legacy Senior Debt footnote 1	Aa2A a 2	A+A +	AAA A	AAA A
  Senior Debt (2)Senior Debt footnote 2	A2A 2	A-A -	AA-A A -	AA (low)A A (low)
  Subordinated Debt	Baa1B a a 1	A-A -	A	A (high)
  Subordinated Debt - NVCC	Baa1(hyb)B a a 1 (hyb)	BBB+B B B +	A	A (low)
  Preferred Shares	Baa3B a a 3	BBBB B B	N/AN A	Pfd-2 (high)P f d 2 (high)
  Preferred Shares - NVCC	Baa3(hyb)B a a 3 (hyb)	BBB-B B B -	N/AN A	Pfd-2P f d 2
  Short-Term Debt	P-1	A-1	F1+F 1 +	R-1 (high)
  Rating Outlook	Stable	Stable	Stable	Stable

• BMO Bank National Association

  table showing the B M O credit ratings across different lines of business and different credit rating agencies

  	Moody's	S&PS & P	Fitch	DBRSD B R S
  Long Term Deposits	A1A 1	N/AN A	AAA A	AA (low)A A (low)
  Short-Term Deposits	P-1	N/AN A	F1+F 1 +	N/AN A
  Senior Debt	Baa1B a a 1	A+A +	AA-A A -	AA (low)A A (low)
  Short-Term Debt	N/AN A	A-1	F1+F 1 +	R-1 (middle)
  Rating Outlook	Stable	Stable	Stable	Stable

• BMO Financial Corp

  table showing the B M O financial corp’s credit ratings across different lines of business and different credit rating agencies

  	Moody's	S&PS & P	DBRSD B R S
  Long Term Deposits	N/AN A	N/AN A	AA (low)A A (low)
  Senior Debt	Baa1B a a 1	A+A +	AA (low)A A (low)
  Short-Term Debt	N/AN A	A-1	R-1 (middle)
  Rating Outlook	Stable	Stable	Stable