Tags

, , , , , , , , ,

GRANT ROBERTSON – BANKING REPORTER

The Globe and Mail

Published Monday, Jan. 28 2013, 2:02 PM EST

Moody’s Investors Service Inc. has downgraded the credit ratings of several of the country’s largest banks, saying that high housing prices and record levels of consumer debt have left them vulnerable to a slowing Canadian economy.

Among other moves, the bond-rating agency took away Toronto-Dominion Bank’s triple-A rating. TD, which was the last Canadian bank to enjoy the highest-possible rating until Monday, was downgraded over concerns about the increasing size of its U.S. operations, where the bank faces more competition than in Canada.

http://www.theglobeandmail.com/globe-investor/moodys-knocks-canadian-banks-down-a-notch/article7910438/

Advertisements