{"id":17324,"date":"2011-12-14T02:33:59","date_gmt":"2011-12-14T06:33:59","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=17324"},"modified":"2011-12-14T02:33:59","modified_gmt":"2011-12-14T06:33:59","slug":"td-preferred-technical-downgrade-on-global-scale-by-sp","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=17324","title":{"rendered":"TD: Preferred Technical Downgrade on Global Scale by S&amp;P"},"content":{"rendered":"<p>Standard and Poor&#8217;s <a href=\"http:\/\/www.standardandpoors.com\/ratings\/articles\/en\/us\/?articleType=HTML&#038;assetID=1245325789388\">has announced<\/a>:<\/p>\n<blockquote>\n<ul>\n<li>Following a review of The Toronto-Dominion Bank (TD Bank) under Standard &#038; Poor&#8217;s revised bank criteria (published on Nov. 9, 2011), we are affirming our ratings on the bank, including the &#8216;AA-\/A-1+&#8217; long- and short-term issuer credit ratings. The outlook is stable.\n<li>The ratings on TD Bank are based on its strong business position, adequate capital and earnings, adequate risk position, and above-average funding and adequate liquidity, compared with those of global peers with the same industry and economic risk scores.\n<li>The ratings on TD Bank benefit from a one-notch uplift for potential extraordinary government support in a crisis.\n<li>We expect stable performance from TD Bank&#8217;s retail-oriented Canadian and U.S. franchises, based on resilient asset quality and ongoing revenue growth opportunities, despite an uncertain economic outlook.<\/ul>\n<p>As we previously announced, on Dec. 13, 2011, Standard &#038; Poor&#8217;s Ratings Services affirmed its ratings on The Toronto-Dominion Bank (TD Bank), including the &#8216;AA-\/A-1+&#8217; long- and short-term issuer credit ratings. The stand-alone credit profile (SACP) on TD Bank is &#8216;a+&#8217;. In addition, we lowered the rating on TD Bank&#8217;s nondeferrable subordinated debt to &#8216;A&#8217; from &#8216;A+&#8217; and the rating on its preferred shares to &#8216;A-&#8216; from &#8216;A&#8217;. The outlook is stable.<\/p><\/blockquote>\n<p>The Preferred Share Scale ratings for the issue remain at P-1(low).<\/p>\n<p>TD has the following issues outstanding: TD.PR.O, TD.PR.P, TD.PR.Q and TD.PR.R (DeemedRetractible) and TD.PR.A, TD.PR.C, TD.PR.E, TD.PR.G, TD.PR.I, TD.PR.K, TD.PR.S and TD.PR.Y (FixedReset).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Standard and Poor&#8217;s has announced: Following a review of The Toronto-Dominion Bank (TD Bank) under Standard &#038; Poor&#8217;s revised bank criteria (published on Nov. 9, 2011), we are affirming our ratings on the bank, including &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-17324","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/17324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17324"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/17324\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}