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DBRS confirms Laurentian Bank of Canada

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DBRS confirms Laurentian Bank of Canada

DBRS confirmed Montreal-based Laurentian Bank of Canada's ratings, including its A (low) long-term issuer rating and R-1 (low) short-term issuer rating.

The rating agency noted Laurentian Bank's well-established retail-based franchise in Québec, its strong earnings capacity and history of low loan losses.

DBRS changed the trend on all long-term ratings to stable from negative and maintained the stable trend on all short-term ratings. "The trend change to Stable from Negative reflects the resolution of the mortgage loan portfolio review, which followed [Laurentian Bank's] disclosure in Q4 2017 that residential prime mortgages it had sold to third parties had documentation and client misrepresentation issues," according to the rating agency.