commercial paper rating of Prime-1). The following shelf ratings were
assigned: cumulative preferred stock of (P)A3 and non-cumulative
preferred stock of (P)Baa1. In the same rating action,
a rating of Baa1(hyb) to CBSH's non-cumulative perpetual preferred stock.
The outlook on the non-cumulative preferred stock rating is stable,
consistent with the outlook on the ratings of CBSH's lead bank, Commerce
Bank (standalone bank financial strength rating of B, which maps to a
baseline credit assessment of aa3, and Aa3/Prime-1 on the bank's long and
short-term deposits, respectively).
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