11:06 AM EDT, 05/24/2024 (MT Newswires) -- Morningstar DBRS on Thursday confirmed its credit ratings on Bank of Montreal ( NRGD ) and its related entities, including the bank's long-term issuer rating at AA and short-term issuer rating at R-1 (high).

The trends on all credit ratings are stable.

The bank's long-term issuer rating is composed of an intrinsic assessment of AA (low) and a support assessment of SA2, which reflect the expectation of timely systemic support from the Government of Canada, the rating agency said.

As a result of the SA2 designation, the bank's long-term issuer rating benefits from a one-notch uplift to the bank's IA, the agency said.

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