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Canadian Bank Ratings Unaffected By Turmoil In The Nonbank Canadian ABCP Market Aug 07
Standard & Poors, Aug 2007
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
TORONTO (Standard & Poor's) Aug. 17, 2007--Standard & Poor's Ratings Services today said that the recent market turmoil within the Canadian ABCP market for nonbank sponsored conduits will not affect the ratings or outlooks on the Canadian banks (listed below, collectively referred to as the banks): -- Bank of Montreal (A+/Stable/A-1); -- The Bank of Nova Scotia (AA-/Stable/A-1+); -- Caisse Centrale Desjardins (AA-/Stable/A-1+); -- Canadian Imperial Bank of Commerce (A+/Stable/A-1); -- Credit Union Central of British Columbia (A+/Stable/A-1); -- Home Trust Co. (BBB/Stable/A-2); -- HSBC Bank Canada (AA/Positive/A-1+); -- Laurentian Bank of Canada (BBB/Stable/A-2); -- Manulife Bank of Canada (AA-/Stable/A-1+); -- National Bank of Canada (A/Stable/A-1); -- Royal Bank of Canada (AA-/Positive/A-1+); and -- The Toronto-Dominion Bank (AA-/Stable/A-1+); 'We have...
Companies mentioned in this report are: Royal Bank of Canada,Toronto-Dominion Bank (The),Bank of Montreal,Bank of Nova Scotia (The),Canadian Imperial Bank of Commerce,National Bank of Canada,Caisse centrale Desjardins,HSBC Bank Canada,Laurentian Bank of Canada,Central 1 Credit Union,Manulife Bank of Canada,Home Trust Company
Action: General Comment
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