Rating

Assessment by Standard & Poor's

Standard & Poor's has awarded Zürcher Kantonalbank an AAA rating for several years. This top grade attests to the bank's outstanding creditworthiness. The main factors contributing to this positive assessment are:

• the guarantee from the canton of Zurich, which is also awarded an AAA rating 
• our strong positioning in the greater Zurich area
• our sound loan quality and high capitalisation

Assessment by Moody's

A rating was issued by Moody's for the first time in the autumn of 2006, with Zürcher Kantonalbank being awarded the highest-possible ranking (Aaa). The rating has again been confirmed in March 2012. The main factors contributing to this positive assessment are:

• the explicit guarantee from the canton of Zurich in relation to the bank's liabilities
• Zürcher Kantonalbank's strong position on the Zurich market
• good capitalisation and solid liquidity

Assessment by Fitch

January 2009 saw Fitch publish its first-ever rating for Zürcher Kantonalbank. In 2012 the top rating AAA has again been confirmed. The ratings agency cited the following reasons for this excellent assessment:

• The canton of Zurich's state guarantee in relation to the banks's liabilities
• Zürcher Kantonalbank's firm anchoring in the regional market
• The bank's conservative risk policy and sound capitalization

Note

The rating merely represents the rating agency's view at the time of the assessment. Explanations on what a rating means must be obtained solely from the agency concerned. Credit ratings can be changed, downgraded, temporarily suspended or completely withdrawn by the rating agency at any time if, in the agency's opinion, the circumstances require this.