United States

Moody's cuts ratings of six Canadian lenders


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A man walks in front of buildings in the financial district in Toronto, January 28, 2013. Moody's Investors Service has cut the ratings of six Canadian financial institutions, including the previously ''Aaa'' rated Toronto-Dominion Bank, due to concerns about rising consumer debt and high housing prices. TD, the only publicly traded bank that still carried Moody's top rating, was downgraded, along with Bank of Nova Scotia , Canadian Imperial Bank of Commerce, Bank of Montreal, National Bank of Canada and Caisse Central Desjardins, Canada's largest association of credit unions, Moody's said on Monday. REUTERS/Mark Blinch