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S&P cuts RBC Bank bonds
Standard & Poor's said it lowered the ratings on three bond issues that are supported by RBC Bank (USA)'s letters of credit to BBB/A-2 from A-/A-2.
The ratings on the three affected bond issues reflect the credit and liquidity support that RBC Bank (USA) (BBB/A-2) provides in the form of irrevocable direct-pay letters of credit, the agency said.
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