Analyst Research

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Provider: Thomson Reuters Stock Report
Provider: Stock Traders Daily
Provider: Sadif Analytics Prime
Provider: MacroRisk Analytics/EconomicInvestor

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Moody's Warns May Downgrade Toronto Dominion Bank And Other Canadian Banks-Reuters

Friday, 26 Oct 2012 06:28pm EDT 

Reuters reported that Moody's Investors Service warned on Friday it could cut its ratings on five top Canadian banks on concerns about a softening economy and volatile capital markets, a blow to a banking system named the soundest in the world four years in a row. But the outlook for the sector is no longer as rosy, Moody's said, because of the risks presented by the macroeconomic environment and a business mix that leans heavily on domestic mortgages and other consumer lending. The warning applies to long-term debt ratings for Toronto Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce and National Bank of Canada. It also applies to Caisse Centrale Desjardins, Canada's largest association of credit unions. The ratings agency said any cuts would likely be only one notch. The sector's ratings are still among the highest in the world. 

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-0.28 -0.54%
22 Sep 2014