Moody Downgrade of 6 Canadian banks

[krynski]

TD, Canada's second-largest bank by market capitalization, had its pristine top-level Aaa rating dropped to Aa1, while Bank of Nova Scotia and Desjardins were dropped from Aa1 to Aa2. BMO, CIBC, and National Bank of Canada were dropped from Aa2 to Aa3. The outlook for all six banks remains stable, and their short-term credit ratings were re-affirmed.

RBC remained Un-touched

http://www.cbc.ca/news/business/stor...des-banks.html

[Titan]

Imagine the fury on Bay Street? Want to be thrown out a window? Mention Moody's at the office!

[Titan]

Hard to believe RBC escaped the downgrade. Makes me even more suspicious of Moodys.

[Maccalus]

RBC was already downgraded by them

[krynski]

I believe RBC has an aa3, and I believe they got downgraded in summer of last year.

[Plett25]

So... they got downgraded from almost excellent to really, really good.

[Jbo]

As mentioned previously, RBC actually was dropped two ratings previously.

[Zee]

Aren't these the guys that were giving Sub-prime Mortgage Backed Securities A+ ratings...

Yes, I believe anything they tell me...