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Moody's affirms big Canadian banks' ratings, keeps stable outlook

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Moody's affirms big Canadian banks' ratings, keeps stable outlook

Moody's affirmed the ratings and kept a stable outlook for big Canadian banks Toronto-Dominion Bank, Royal Bank of Canada, Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, and National Bank of Canada and their affiliates.

The rating agency affirmed the banks' short and long term debt and deposit ratings, issuer ratings, counterparty risk ratings, counterparty risk assessments, and stand-alone baseline credit assessments.

Moody's had an unchanged assessment of the banks' stand-alone credit profiles, support and structural analysis, including its government support assumptions.

In a report released Aug. 1, David Beattie, senior vice president at Moody's in Toronto, said the big Canadian banks continue to maintain strong credit fundamentals as reflected in their high stand-alone credit assessments and ratings, supported by favorable operating conditions.