Standard & Poor's: AA-/A-1+ (Stable) RBC Investor & Treasury Services (RBC I&TS) is pleased to advise that RBC Investor Services Bank S.A. (RBCIS Bank) and RBC Investor Services Trust (RBCIS Trust), two of its key operating entities, attained strong credit ratings of AA-/A-1+ (Stable) from Standard & Poor’s (S&P) on November 19, 2013. These ratings align with the strong credit rating of our parent company, Royal Bank of Canada (RBC) (S&P: AA-/Stable) and reflects S&P’s consideration of RBCIS Bank and RBCIS Trust as core subsidiaries of RBC. As a reporting segment of Royal Bank of Canada, RBC I&TS leverages the strong capital base and financial strength of Canada’s largest bank. These ratings come as a direct result of our prudent fiscal approach and conservative lending practices. With growing client assets under administration (USD 3.1 trillion as of July 31, 2013), we are committed to delivering leading asset servicing solutions worldwide, including custodial, advisory, financing and other services to safeguard clients’ assets, maximise liquidity and manage risk in multiple jurisdictions. For your convenience, S&P’s full reports are available for RBCIS Bank and RBCIS Trust. If you have any questions, please contact your RBC I&TS representative.   rbcits.com © Royal Bank of Canada 2013. RBC Investor & Treasury Services™ is a global brand name and is part of Royal Bank of Canada. RBC Investor & Treasury Services is a specialist provider of asset servicing, custody, payments and treasury services for financial and other institutional investors worldwide. RBC Investor Services™ operates through two primary operating companies, RBC Investor Services Trust and RBC Investor Services Bank S.A., and their branches and affiliates. These materials are provided by RBC Investor & Treasury Services (RBC I&TS) for general information purposes only. RBC I&TS makes no representation or warranties and accepts no responsibility or liability of any kind for their accuracy, reliability or completeness or for any action taken, or results obtained, from the use of the materials. Readers should be aware that the content of these materials should not be regarded as legal, accounting, investment, financial, or other professional advice, nor is it intended for such use. ® / ™ Trademarks of Royal Bank of Canada. Used under licence.