Moody's Ratings assigns Baa2 long-term issuer rating to Equitable Bank

TORONTO, Feb. 11, 2025 /PRNewswire/ - Equitable Bank (the "Bank"), Canada's Challenger Bank™ with a mission to drive change in Canadian banking to enrich people's lives, is pleased to announce that Moody's Ratings ("Moody's") has assigned it a long-term issuer rating of Baa2 and a short-term issuer rating of P-2. This important milestone reflects Moody's confidence in Equitable Bank's financial stability and risk measured growth prospects. Moody's is a leading global provider of credit ratings, research and risk analysis, providing valuable insights into the financial stability and creditworthiness of organizations, debt instruments and securities.

"Moody's inaugural ratings are a testament to Equitable Bank's robust balance sheet and prudent risk management," said Andrew Moor, president and CEO, Equitable Bank. "This is an exciting next step forward for us that underscores the strength and resilience of our business model. It is great to have recognition from Moody's trusted and global voice that aligns with our commitment to maintaining high standards of financial resilience and prudence while finding exciting opportunities for future growth."

The ratings from Moody's are expected to broaden Equitable Bank's access to investors in the financial markets and provide greater insight and analysis to the Bank's stakeholders regarding financial stability and creditworthiness.

About Equitable Bank
Equitable Bank has a clear mission to drive change in Canadian banking to enrich people's lives. As Canada's Challenger Bank™ and seventh largest bank by assets, it leverages technology to deliver exceptional personal and commercial banking experiences and services to nearly 700,000 customers and more than six million credit union members through its businesses. It is a wholly owned subsidiary of EQB Inc. (TSX: EQB), a leading digital financial services company with $127 billion in combined assets under management and administration (as at October 31, 2024). Through its digital EQ Bank platform (eqbank.ca), its customers have named it one of the top banks in Canada on the Forbes World's Best Banks list since 2021.    

To learn more, please visit eqb.investorroom.com or connect with us on LinkedIn.

Investor contact:
Mike Rizvanovic
Managing Director, Investor Relations
[email protected]

Media contact:
Maggie Hall
Director, PR & Communications 
[email protected]

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SOURCE Equitable Bank