Discover Bank
Standard & Poor's1 Fitch Moody's
Senior Debt BBB BBB+ Baa1
Subordinated Debt BBB- BBB Baa1
Outlook Stable Stable Negative
Discover Financial Services
Standard & Poor's1 Fitch Moody's
Senior Debt BBB- BBB+ Baa2
Preferred Stock BB- BB Ba1(hyb)
Outlook Stable Stable Negative
Credit Opinion Date /
Last Rating Action
11/23/22 4/21/23 8/17/23

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These credit ratings are provided for information purposes only. A credit rating is solely the opinion of the rating agency and is not a statement of fact, an offer, invitation, inducement or recommendation to purchase, sell or hold any securities or otherwise act in relation to Discover Financial Services or Discover Bank or otherwise in connection with any associated transaction or any other matter. Credit ratings and other views of rating agencies do not comment on market price, marketability, investor preference or suitability of any security. Discover Financial Services does not endorse, and accepts no responsibility for, the credit ratings issued by the rating agencies. Credit ratings may be changed, superseded or withdrawn by the rating agencies at any time without notice at the sole discretion of the rating agencies, and each rating should be evaluated independently of any other rating.