11:38 AM EST, 11/07/2023 (MT Newswires) -- Moody's on Monday affirmed the ratings and assessments of Toronto-Dominion Bank (TD.TO).
This includes the bank's a1 baseline credit assessment, Aa1/P-1 long-term and short-term deposit ratings, A1 junior senior unsecured rating, as well as its Aa1/P-1 long-term and short-term counterparty risk ratings, and Aa2(cr)/P-1(cr) long-term and short-term counterparty risk assessments.
The rating outlooks for the long-term deposit ratings at TD and Toronto-Dominion Bank, New York Branch, issuer ratings, senior unsecured debt ratings, and junior-senior unsecured debt ratings at TD included in the rating action were maintained stable.
"Despite a more challenging operating environment, TD's retail-oriented focus has generated stable profitability and reflects the bank's conservative risk appetite" Robert Colangelo, Moody's vice president - senior credit officer, said. "While the bank has engaged in returning capital to shareholders in light of its terminated acquisition of First Horizon, TD expects to maintain a buffer in excess of regulatory minimums which should protect against unexpected losses."
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