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July 27, 2012, 5:24 p.m. EDT

S&P cuts outlooks on Canadian financial firms

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By Sue Chang

SAN FRANCISCO (MarketWatch) -- Standard & Poor's Ratings Services on Friday lowered its outlooks on seven Canadian financial institutions to negative from stable while affirming their ratings. They include the Bank of Nova Scotia /zigman2/quotes/207954556/composite BNS -0.58% /zigman2/quotes/206642548/delayed CA:BNS -0.39% , Royal Bank of Canada /zigman2/quotes/206088494/composite RY +0.57% /zigman2/quotes/200638870/delayed CA:RY +0.74% , Toronto-Dominion Bank /zigman2/quotes/202133558/composite TD -0.63% /zigman2/quotes/209283160/delayed CA:TD -0.48% , Central 1 Credit Union, Home Capital Group Inc., Laurentian Bank of Canada and National Bank of Canada. "A prolonged run-up in housing prices and consumer indebtedness in Canada is in our view contributing to growing imbalances and Canada's vulnerability to the generally weak global economy, applying negative pressure on economic risk for banks," said S&P in a statement. The Bank of Nova Scotia, Royal Bank of Canada, and Toronto-Dominion Bank are rated AA-; Central 1 Credit Union is rated A+; Home Capital Group is rated BBB; Laurentian Bank of Canada is rated BBB+; and National Bank of Canada is rated A.

/zigman2/quotes/207954556/composite
US : U.S.: NYSE
$ 70.72
-0.41 -0.58%
Volume: 1.83M
Jan. 28, 2022 4:00p
P/E Ratio
11.53
Dividend Yield
4.42%
Market Cap
$86.73 billion
Rev. per Employee
$338,943
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/zigman2/quotes/206642548/delayed
CA : Canada: Toronto
$ 90.33
-0.35 -0.39%
Volume: 3.89M
Jan. 28, 2022 4:24p
P/E Ratio
11.72
Dividend Yield
4.43%
Market Cap
$110.21 billion
Rev. per Employee
$426,325
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/zigman2/quotes/206088494/composite
US : U.S.: NYSE
$ 112.13
+0.64 +0.57%
Volume: 1.91M
Jan. 28, 2022 4:00p
P/E Ratio
12.74
Dividend Yield
3.39%
Market Cap
$159.35 billion
Rev. per Employee
$517,594
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/zigman2/quotes/200638870/delayed
CA : Canada: Toronto
$ 143.18
+1.05 +0.74%
Volume: 6.85M
Jan. 28, 2022 4:00p
P/E Ratio
12.94
Dividend Yield
3.35%
Market Cap
$202.49 billion
Rev. per Employee
$651,034
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/zigman2/quotes/202133558/composite
US : U.S.: NYSE
$ 78.45
-0.50 -0.63%
Volume: 1.78M
Jan. 28, 2022 4:00p
P/E Ratio
12.78
Dividend Yield
3.30%
Market Cap
$144.11 billion
Rev. per Employee
N/A
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/zigman2/quotes/209283160/delayed
CA : Canada: Toronto
$ 100.21
-0.48 -0.48%
Volume: 3.45M
Jan. 28, 2022 4:17p
P/E Ratio
12.98
Dividend Yield
3.55%
Market Cap
$183.12 billion
Rev. per Employee
N/A
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