Fitch Rates City National Corporations $175MM Series C Non-Cumulative Perpetual Pfd Stock 'BB'

  Fitch Rates City National Corporations $175MM Series C Non-Cumulative
  Perpetual Pfd Stock 'BB'

Business Wire

CHICAGO -- November 07, 2012

Fitch Ratings has assigned a 'BB' rating to City National Corporations (CYN)
$175 million non-cumulative perpetual preferred issuance.

The coupon is fixed for life at 5.5% and callable after five years.

The hybrid instrument is rated five notches lower than CYN's viability rating
in accordance with Fitch's criteria 'Rating Bank Regulatory Capital and
Similar Securities' dated Dec. 15, 2011. This reflects the designed
loss-absorbing nature of the preferred stock as well as its non-cumulative or
deferral feature.

Proceeds of the offering are expected to be used to fund an upcoming debt
maturity and for general corporate purposes.

The following rating has been assigned.

City National Corporation

--Non-cumulative preferred at 'BB'.

Additional information is available at 'www.fitchratings.com.' The ratings
above were solicited by, or on behalf of, the issuer, and therefore, Fitch has
been compensated for the provision of the ratings.

Applicable Criteria and Related Research:

--'Global Financial Institutions Rating Criteria' (Aug. 15, 2012);

--'Rating Bank Regulatory Capital and Similar Securities' (Dec. 15, 2011);

--'Fitch Affirms City National's IDR at 'A-'; Outlook Stable' (May 9, 2012).

Applicable Criteria and Related Research:

Global Financial Institutions Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=686181

Rating Bank Regulatory Capital and Similar Securities

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=656371

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Fitch Ratings
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