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DBRS confirms BNY Mellon at AA (low)

DBRS on Oct. 5 confirmed Bank of New York Mellon Corp.'s long-term issuer rating and long-term senior debt rating at AA (low), its short-term issuer rating at R-1 (middle), its subordinated debt rating at A (high), and its preferred stock rating at A (low).

DBRS said the action reflects the company's ability to continue generating "significant positive operating leverage," largely through "disciplined expense management."

The rating agency also confirmed subsidiary Bank of New York Mellon's long-term issuer, long-term senior debt and long-term deposits ratings at AA. Its short-term issuer rating was confirmed at R-1 (high).

The trend for all ratings remains stable.