09:59 AM EDT, 05/17/2024 (MT Newswires) -- Morningstar DBRS on Thursday confirmed the credit ratings of Canadian Imperial Bank Of Commerce ( CM ) and its related entities.

This includes the bank's long-term issuer rating at AA and short-term issuer rating at R-1 (high). The trend on all credit ratings is stable.

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

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

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