Moody's assigns definitive ratings to CARDS II 2015-2 ABS

Toronto, August 13, 2015 -- Moody's Investors Service has assigned a definitive Aaa (sf) rating to the Class A Floating Rate Asset Backed Notes and a definitive Baa1 (sf) to the Class B Floating Rate Asset Backed Notes of the Series 2015-2, issued by CARDS II Trust (CARDS II), sponsored by Canadian Imperial Bank of Commerce (CIBC, long-term deposits/long-term senior unsecured Aa3 negative, counterparty risk assessment Aa2 (cr), short-term deposit P-1, and BCA a2). Moody's also announced today that the issuance of the Series 2015-2 notes would not, in and of itself and as of this time, result in the downgrade or withdrawal of the ratings assigned to any class of outstanding notes issued by CARDS II.

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