Bank of Nova Scotia (The) Nov 04
Standard & Poors, November 2004
Abstract
Strong track record of generating consistent and stable earnings growth Very strong capital adequacy ratios Very good diversification by customer, product, and geography Much improved credit quality Economic and political risk associated with investments in emerging markets Relatively high level of exposure to the U.S. leveraged-lending sector Negative effect of currency translation on U.S. and other foreign-denominated earnings The ratings on The Bank of Nova Scotia (Scotiabank), including the 'A-1(High)' Canadian national scale CP and the 'P-1(Low)' Canadian national scale preferred share ratings, reflect its market position as one of five dominant universal banks in Canada, its broad business mix, geographic diversification, and the efficiency of its operations. The bank has a track record of strong and consistent earnings performance...
Companies mentioned in this report are: The Bank of Nova Scotia,Shinsei Bank Ltd.,Scotia Mortgage Corp.,Montreal Trustco Inc.,Montreal Trust Co. of Canada,Scotiabanc, Inc.,Scotiabank Europe PLC,BNS Capital Trust,Scotia Mortgage Investment Corp.,National Trust Co.,Scotiabank Capital Trust,The Bank of Nova Scotia Trust Co.,Scotiabank Inverlat, S.A.
Action: Review
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: Full Analysis
The Bank of Nova Scotia,Shinsei Bank Ltd.,Scotia Mortgage Corp.,Montreal Trustco Inc.,Montreal Trust Co. of Canada,Scotiabanc, Inc.,Scotiabank Europe PLC,BNS Capital Trust,Scotia Mortgage Investment Corp.,National Trust Co.,Scotiabank Capital Trust,The Bank of Nova Scotia Trust Co.,Scotiabank Inverlat, S.A.
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