NEW YORK--(BUSINESS WIRE)--Fitch Ratings has affirmed the 'AAA' rating with a Stable Outlook on the Canadian Imperial Bank of Commerce's (CIBC; 'AA-'/'F1+'; Outlook Stable) legislative mortgage covered bonds following Fitch's annual review. KEY RATING DRIVERS CIBC's LEGISLATIVE MORTGAGE COVERED BONDS: The 'AAA' rating of CIBC's legislative mortgage covered bonds is based on the issuer's Issuer Default Rating (IDR) of 'AA-', Fitch's unchanged Discontinuity Cap (D-Cap) of '3' (moderate high risk)
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