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May 28, 2024 · Fitch Ratings - Toronto - 28 May 2024: Fitch Ratings has affirmed The Toronto-Dominion Bank's (TD) Long-Term Issuer Default Rating (IDR) at 'AA-' and Short-Term IDR at 'F1+'. The Rating Outlook has been revised to Negative from Stable. Fitch has also affirmed the ratings of TD's subsidiaries, TD Bank US Holding Company and TD Bank, N.A.
- Canada Ratings & Research
Fitch’s perspective on Canada is anchored by a AA+ sovereign...
- Fitch Affirms Royal Bank of Canada at 'AA-'; Outlook is Stable
Fitch Ratings - Toronto - 20 Jun 2023: Fitch Ratings has...
- Canada Ratings & Research
Fitch’s perspective on Canada is anchored by a AA+ sovereign rating and supported by one of the strongest banking systems and regulatory environments globally. As an important global market, we continue to enhance our Canadian presence by providing timely and insightful research to capital markets.
- Key Rating Drivers
- Other Debt and Issuer Ratings: Key Rating Drivers
- Other Debt and Issuer Ratings: Rating Sensitivities
- Subsidiaries & Affiliates: Key Rating Drivers
- Subsidiaries and Affiliates: Rating Sensitivities
- VR Adjustments
- Best/Worst Case Rating Scenario
- ESG Considerations
- Additional Disclosures
RY's IDR is driven by its Viability Rating (VR). The VR reflect RY's strong and sustainable business profile, resilient asset quality and capital ratios, diversified funding profile, and above peer average profitability. The VR is in line with its implied VR. Operating Environment Reflective of Canada:Despite its U.S. presence, most of RY's operati...
RY's senior preferred, or legacy senior debt and short-term (less than 400 days) senior obligations, derivative counterparty ratings (DCRs) and Long-Term deposits are rated 'AA', one-notch above RY's Long-Term IDR. This reflects the exclusion of these obligations from bail in, as well as the protection that could accrue to holders of these instrume...
RY's senior preferred debt, DCR and Long-Term deposit ratings are primarily sensitive to changes in RY's Long-Term IDR. RY's subordinated debt rating as well as preferred share ratings are primarily sensitive to a change in RY's VR.
The ratings of CNB are linked to those of its parent, RY. CNB's IDRs and Shareholder Support Rating (SSR) reflect a very high probability of support from RY, if needed. Fitch considers CNB a strategically important subsidiary of RY and its Long-Term IDR is one-notch lower than RY's VR. Since the Royal Bank of Canada, New York Branch (RBCNY) is the ...
The ratings of CNB are sensitive to the same negative/positive factors that may drive a change in RY's VR. The ratings of RBCNY are sensitive to the same negative/positive factors that may drive a change in RY's IDR. The ratings of CNB are sensitive to the same positive factors that may drive a change in RY's VR.
The Business Profile score of 'aa-' is above the 'a+' implied score due to: Market Position (positive) and Business Model (positive). The Earnings & Profitability score of 'aa-' is above the 'a' implied score due to: Earnings Stability (positive) and Revenue Diversification (positive).
International scale credit ratings of Financial Institutions and Covered Bond issuers have a best-case rating upgrade scenario (defined as the 99th percentile of rating transitions, measured in a positive direction) of three notches over a three-year rating horizon; and a worst-case rating downgrade scenario (defined as the 99th percentile of ratin...
Unless otherwise disclosed in this section, the highest level of ESG credit relevance is a score of '3'. This means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. For more information on Fitch's ESG Relevance Scores, visit www.fit...
May 28, 2024 · May 28 (Reuters) - Fitch revised the outlook on Toronto-Dominion Bank's (TD.TO) credit ratings to "negative" from "stable" on Tuesday, citing risks to its business from the anti-money...
Jun 20, 2024 · Fitch affirms ratings of Canadian banks - BMO, BNS, CM, TD and RY - based on stable economic conditions, which are likely to support their credit fundamentals and financial performance.
May 28, 2024 · TORONTO — Fitch Ratings Inc. says it has downgraded its outlook on TD Bank Group to negative from stable because of the potential fallout from anti-money laundering deficiencies at the bank.
Dec 8, 2020 · TORONTO — Fitch Ratings, which in June stripped Canada of its triple-A credit rating, has warned that Canada could face renewed pressure on its rating if Ottawa sticks to spending plans outlined last week in a fiscal update without raising revenue.
