Moody's Downgrades CIBC's Credit Rating

Investment Executive, 11 April 2007Moody�s Investors Service has altered a number of its ratings on banks, including all of the big Canadian banks, following changes to its bank rating methodology, which incorporates joint default analysis. It lowered the debt and deposit ratings of 44 banks, the ratings of two banks were confirmed. Of the 44 downgrades, 29 were one notch, 12 were two notches and