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Moody’s reviews 6 Canadian banks, could downgrade
Rating agency Moody’s Investors Service is reviewing the long-term ratings of six Canadian banks and cautioning the public that the financial institutions could be downgraded. The six affected institutions are Bank of Montreal, Bank of Nova Scotia, Caisse Centrale Desjardins, National Bank of Canada and Toronto-Dominion Bank. Royal Bank of Canada is noticeably absent from the list; however, Moody’s already downgraded the bank two notches earlier this year. The rating agency is now reviewing the other banks because they “face challenges not fully captured in their current ratings,” including concerns about ... (full story)